Barter is a system of
A. trade without the use of money.
B. trading one good for another.
C. the double coincidence of wants.
D. All of these responses are correct.
Answer: D
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The shutdown point occurs at the level of output for which the ________ is at its minimum
A) marginal cost B) average variable cost C) average fixed cost D) total cost
A low correlation coefficient implies that
A) the line always has a flat slope B) in the scatterplot, the points fall quite far away from the line C) the two variables are unrelated D) you should use a tighter scale of the vertical and horizontal axis to bring the observations closer to the line
One of the challenges for development economists working in health care is to figure out a way to:
A. give doctors the right incentives to practice good medicine. B. force families to make better health care choices. C. influence markets in order to keep the costs of healthcare lower. D. alter the educational system in order to mandate that a certain number of students go into healthcare fields.
Which of the following would be included in the GDP Price Index, but not the Consumer Price Index?
a. The price of a pair of shoes b. The price of coffee c. The price of a used car d. The price of a bar of soap e. The price of an aircraft carrier