Compare two economies: a barter economy versus an economy that uses money.In order to exchange goods and services:
A) A double coincidence of wants is necessary in the barter economy
B) A double coincidence of wants is more likely to occur in the barter economy
C) Transactions are likely to be smoother in the barter economy because goods and services are exchanged directly
D) The money economy requires that sellers have more information about buyers' wants
Correct Answer:
Verified
Q3: How many prices would a trader of
Q6: Suppose that in a barter economy Tom
Q7: The unit of account characteristic of money:
A)Makes
Q9: Without the use of money, workers in
Q10: In a barter system:
A)People have to specialize
Q11: Money as a means of payments refers
Q13: The high transaction costs associated with a
Q15: As an economy produces more different types
Q16: Money eliminates the need for:
A)A search for
Q17: Specialization usually increases the output of a
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