A natural monopoly is characterized by the fact that its average costs increase rather than decrease when its output expands

Some economists believe that the Asian crisis in 1997

A) could have been avoided if stronger action had been taken by major countries and international agencies. B) was inevitable since most of the economies were experiencing slow economic growth. C) was made worse by the refusal of the IMF to take any actions. D) was necessary to rid those economies of inflation.

A disadvantage of the barter system is that

A) no trade occurs. B) people must produce all their own food, clothing, and shelter. C) the opportunity to specialize is greatly reduced. D) gold is the only unit of account.