As an economy produces more different types of goods:
A) It is more difficult to quote prices if the economy does not use money
B) The number of relative prices decreases
C) Money becomes less useful as a unit of account
D) Money becomes less useful as a standard of value
Correct Answer:
Verified
Q3: How many prices would a trader of
Q10: In a barter system:
A)People have to specialize
Q11: Money as a means of payments refers
Q12: Compare two economies: a barter economy versus
Q13: The high transaction costs associated with a
Q16: Money eliminates the need for:
A)A search for
Q17: Specialization usually increases the output of a
Q18: A society without any money:
A)Could never exchange
Q19: In a barter economy with "n'' number
Q20: The store of value characteristic of money
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