Which of the following statements is true of a barter system?
a. In a barter system, an individual offers one good or service to get another good or service.
b. In a barter system, an individual offers money to get a good or service
c. In a barter system, an individual offers a good or service to get money.
d. In a barter system, different kinds of money are exchanged for one another.
e. In a barter system, all individuals are self-sufficient.
a
Economics
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What will be an ideal response?
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What is the equilibrium price with no trade? Over what range of prices will the country export the good? Over what range will it import the good? Suppose the world price is $20. What is the quantity demanded, the quantity supplied, and the amount of the good exported or imported?
Economics