When two producers are trading without money, each must want what the other produces. This requirement is referred to as
A. ?the barter condition.
B. ?double coincidence of wants.
C. ?comparative advantage.
D. ?specialization in production.
Answer: B
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The ATM model of the demand for cash is a
A. general-equilibrium model. B. steady state model. C. partial-equilibrium model. D. no-equilibrium model.
When a voucher system is used, an invoice approval is not needed as long as the purchase is evidenced by an invoice and purchase order.
Answer the following statement true (T) or false (F)
______ capital includes resources such as timber, water, and minerals that are components of nature that can be linked with human welfare.
A. Natural B. Social C. Manufactured D. Human
Which of the following is LEAST likely to be included under action plans?
A. forecasts and budgets B. timing C. separate plans for worst-case performance against the forecast D. individuals responsible for various aspects of implementation E. resources necessary to make the strategy happen