The figure given below represents the PPC in two nations - Germany and Korea, producing only two goods, cars and food.Figure 2.4
-Barter requires a double coincidence of wants. This means that:
A) at least two traders must demand a commodity.
B) any two traders involved in a transaction must have money.
C) each trader must demand at least two commodities.
D) either of the two traders involved in a transaction must have money.
E) when two traders are involved in a transaction each trader must want what the other has to offer.
Correct Answer:
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Q15: The figure given below represents the PPC
Q16: The figure given below represents the PPC
Q17: The figure given below represents the PPC
Q18: The figure given below represents the PPC
Q19: The figure given below represents the PPC
Q21: The table given below reports the quantity
Q22: The table given below reports the quantity
Q23: The table given below reports the quantity
Q24: The table given below reports the quantity
Q25: The table given below reports the quantity
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