The first step in the evolution of money involved the use of _____
a. physical commodities
b. barter
c. pieces of paper representing claims on physical commodities
d. pieces of paper with no intrinsic value
e. electronic entries representing claims on pieces of paper with no intrinsic value
b
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The division of labor generally refers to splitting
A. the three coordination decisions among different sets of planners. B. the parts of a complex task among different workers. C. the production of consumption goods and capital goods among different workers. D. political leaders into radical and conservative camps each year.
Households can finance their consumer spending from current
a. income. b. wealth. c. debt. d. income and current wealth.
Net national product (NNP) is equal to
A. GDP minus depreciation B. GNP plus depreciation C.GDP plus depreciation D. GNP minus depreciation.
There's a call option written for 100 shares of GM stock for $85.00 a share, prior to the third Friday of October 2017: The option writer:
A. has the requirement to sell 100 shares of GM for $85 a share on or before the third Friday of October 2017 if the option holder wants to exercise the option. B. does not have to post margin while the option holder does. C. can cancel the option before the third Friday of October 2017. D. has the option to sell 100 shares of GM for $85 a share on or before the third Friday of October 2017.