Which of the following was the earliest type of money?
a. Coins
b. Barter
c. Commodity money
d. Token money
e. Fiat money
c
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When aggregate demand decreases rapidly, the economy is likely to experience
a. inflation. b. an economic boom. c. economic growth. d. recession.
Which of the following resulted from the Smoot-Hawley trade bill of 1930?
What will be an ideal response?
The Unique Toy Company rents space by the square foot in a warehouse to store its inventory. The owner of the warehouse just doubled the rent he charges the Unique Toy Company. Everything else equal, the rent increase is likely to ________ Unique's optimal level of inventory.
A. decrease B. increase C. not change D. reduce to zero
Suppose an economy has a balanced federal budget, and a favorable supply shock hits the economy. Tax revenues will ________ and expenditures on transfer payments will ________, resulting in a budget ________
A) fall; fall; deficit B) increase; fall; surplus C) fall; increase; deficit D) increase; increase; surplus