The most direct way in which money eliminates the need for a double coincidence of wants is through its use as a
A) medium of exchange.
B) standard of deferred payment.
C) store of value.
D) unit of account.
A
You might also like to view...
If worker productivity is the same in each country, outsourcing and labor migration will both result in an equalization of wages across the two countries.
Answer the following statement true (T) or false (F)
A depreciation in the U.S. dollar on the foreign exchange market will
a. make U.S. exports more expensive to foreigners. b. make imports less expensive for U.S. consumers. c. make U.S. exports cheaper for foreign consumers. d. encourage U.S. consumers to travel abroad.
Teenagers have more frequent unemployment spells so, on average, they spend more time searching for jobs. Other thing the same, this means that teenagers have a
a. higher unemployment rate. If a larger portion of the adult population were teenaged, the natural rate of unemployment would be higher. b. higher unemployment rate. The portion of the adult population that is teenaged does not affect the natural rate of unemployment. c. lower unemployment rate. If a larger portion of the adult population were teenaged, the natural rate of unemployment would be lower. d. lower unemployment rate. The portion of the adult population that is teenaged does not affect the natural rate of unemployment.
In the short run, product differentiation enables firms in monopolistically competitive markets to:
A. act like perfectly competitive firms. B. sell a standardized good. C. collude with competing firms to set prices. D. act like a monopolist.