Without money, the process of acquiring goods and services would be much more efficient.
Answer the following statement true (T) or false (F)
False
Barter would be less efficient than using money because it would take extra time and effort to find trading partners.
You might also like to view...
As long as the marginal utility per dollar from pizza is greater than the marginal utility per dollar from soda, then to maximize utility a consumer will buy
A) more soda to equalize the marginal utility per dollar between soda and pizza. B) less pizza and less soda. C) more pizza and less soda. D) equal amounts of pizza and soda.
Which of the following is not an idea advocated by Adam Smith?
A. Producers must compete with one another to win customer's business. B. Pursuit of private self interest with an invisible hand is the best way to promote the public interest. C. Government should control the economy. D. The government should provide for national defense and little else.
If $20 billion was spent on a program last year, and $21 billion would be required to maintain services at the same level, then a budgeted figure of $20.5 billion would represent
A. a cut using either current services or baseline budgeting. B. an increase using current services budgeting and a cut using baseline budgeting. C. an increase using either current services or baseline budgeting. D. an increase using baseline budgeting and a cut using current services budgeting.
Beyond the provision of public goods, government exists to address:
A. national defense. B. limiting personal freedom. C. the problem of declining moral values. D. externalities and property rights.