Under a system of barter,
A)no rates of exchange are defined
B)there are as many different rates of exchange as there are pairs of goods to trade
C)rates of exchange are expressed in goods per dollar
D)rates of exchange are expressed in dollars per good
E)rates of exchange are denominated in gold or silver

Question

Quizplus · Accepted Answer

In a barter system, goods are exchanged directly for other goods, so the rate of exchange is determined by the relative value of the goods being traded, resulting in as many different rates as there are pairs of goods.

Under a System of Barter