Two characteristics of a modern economy are
A. barter and self-sufficiency.
B. specialization and exchange.
C. a low standard of living a high poverty rate.
D. self-sufficient workers and very little international trade.
B. specialization and exchange.
You might also like to view...
For a monopolist to practice price discrimination, one necessary condition is that the product offered for sale must be:
a. high quality. b. expensive. c. cheap. d. impossible or difficult to resell.
Cost of doing what? Homeowners who make monthly mortgage payments are paying
What will be an ideal response?
Explain the determinants of exports and imports
What will be an ideal response?
Which of the following statements is true about the misperceptions theory?
A) Both anticipated and unanticipated changes in the nominal money supply have real effects on the economy. B) Neither anticipated nor unanticipated changes in the nominal money supply has real effects on the economy. C) Unanticipated changes in the nominal money supply have real effects, but anticipated changes are neutral. D) Anticipated changes in the nominal money supply have real effects, but unanticipated changes are neutral.