David and Asher buy the same pair of sneakers, but each in the wrong size. David proposes a size swap with Asher. This is an example of
a. barter, since the sneakers in the correct size represent a medium of exchange
b. barter, since the sneakers in the correct size have intrinsic value to both David and Asher.
c. money, since the sneakers in the correct size do not have any intrinsic value.
d. money, since the sneakers in the correct size represent a medium of exchange.
b
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Refer to the Article Summary. Senator Pat Toomey brought the Fed's credibility into question when it once again delayed raising interest rates despite several prior announcements alluding to timing for a potential interest rate hike
Prior to this, over the past two decades whenever a change in Fed policy had been announced, the change has ________ taken place, leading to ________ credibility. A) rarely; less B) rarely; greater C) actually; greater D) actually; less
Suppose residents of Toadhop live on the Quabache River, a river prone to flooding. Suppose there are 1000 (type A) people who value flood control more than the 1000 (type B) people. Type A Demand QD = 100 ? P Type B Demand QD = 50 ? P Where Q measures the quality of flood control. If the price of a unit of flood control is $100,000 and the citizens of Toadhop gather for a townhall meeting to
find the socially optimal level of flood control, and they are successful, they will pick Q equal to a. 0 b. 10 c. 25 d. 70
According to the Clayton Act,
a. lawyers are given an incentive to reduce the number of cases involving cooperative arrangements. b. individuals can sue to recover damages from illegal cooperative agreements. c. the government was able to incarcerate the CEO of a firm for illegal pricing arrangements. d. private lawsuits are discouraged.
Moore's law refers to which of the following?
A) The steady state rate of growth of output per capita will equal the rate of growth of technological progress. B) The number of transistors in a chip would double approximately every 18-24 months. C) The steady state rate of growth of output per effective worker will be zero. D) The saving rate that maximizes steady state consumption is .5 (s = 0.5). E) none of the above