Compared to barter, money __________ transaction costs, making transactions __________ time-consuming
A) increases; more
B) increases; less
C) reduces; more
D) reduces; less
D
You might also like to view...
A $10 per-unit tax on cell phones raises the equilibrium price paid by consumers by $5. Before the tax, 5,000 cell phones were sold per year. The revenue from the tax is
A) zero. B) positive but less than $50,000 per year. C) $50,000 per year. D) more than $50,000 per year.
Describe how changes in expected inflation impact an economy in the wake of a temporary negative supply shock
What will be an ideal response?
The principal cause of the housing cycle is natural disaster, such as Midwest floods and California earthquakes
Indicate whether the statement is true or false
Suppose a manager's preferences depend only on profit. Such a manager will then have an indifference curve that: 
A. is tangent to the profit curve at a quantity exactly equal to 2.5. B. is tangent to the profit curve somewhere between quantities of 0 and 2.5. C. intersects the profit curve at a quantity exactly equal to 5. D. is tangent to the profit curve somewhere between quantities of 2.5 and 5.