How many prices would there be in a barter economy with 100 goods?
A) 100
B) 1,000
C) 4,950
D) 10,000
C
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All of the following shift the aggregate demand curve to the right EXCEPT
A) an increase in expected future profit. B) an increase in foreign income. C) an increase in government expenditure. D) an increase in taxes. E) an expansion of the global economy.
The demand curve faced by the individual perfectly competitive firm is:
A) downward sloping. B) upward sloping. C) horizontal. D) vertical.
Given the strict quantity theory of money, if the quantity of money were decreased by 50 percent, prices would
a. fall by 50 percent. b. rise by 50 percent. c. increase by 100 percent. d. decrease by 100 percent.
Classical economists believe that a reason the aggregate supply curve is ________ is because people who are not working are those who have chosen not to work at the prevailing wage rate.
A. vertical B. horizontal C. positively sloped D. negatively sloped