In a barter system:
A) People have to specialize in order to have goods to trade
B) People cannot specialize because they never know what goods will be desired
C) People are less likely to specialize as extensively as they would in a monetary economy
D) People must be self sufficient
Correct Answer:
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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
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Q11: Which of the following would not be
Q11: Money as a means of payments refers
Q12: Compare two economies: a barter economy versus
Q13: The high transaction costs associated with a
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Q16: Which of the following is not an
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