Most Markets Involve the Use of Money for Transactions Because:
Most markets involve the use of money for transactions because:
A)goods and services can be exchanged more easily with money than without it.
B)goods and services cannot be exchanged without money.
C)using money requires a double coincidence of wants.
D)the transaction costs of using money are very high.
E)the value of money remains same across countries over time.
Barter can best be defined as:
A)the direct exchange of one good for money.
B)the direct exchange of money for a good.
C)the direct exchange of goods and services without the use of money.
D)the direct exchange of labor services for wages.
E)the payment of interest on a savings account.
The term barter refers to exchanges made:
A)only with the use of money.
B)without the use of money.
C)outside the U.S. economy.
D)only in underdeveloped countries.
E)within countries in a monetary union.
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.