Barter may be the only alternative:
a. if the supply of money dries up.
b. if the price system is not allowed to function properly.
c. if disinflation sets in
d. if hyperinflation sets in.
e. if fiat money is discontinued.
b
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Which of the following statements best summarizes why bureaucrats tend to be budget maximizers?
a. The larger the budget, the more assured bureaucrats can be of having sufficient resources to complete a task. b. The larger the budget, the more power and prestige the bureaucrat wields. c. The larger the budget, the larger the workload of the bureaucrat. d. The larger the budget, the more work in the public interest the bureaucrat can undertake.
Refer to the above table. Which of the following price-quantity schedules would represent the demand for X in the $2 and $3 price-range?
The table below shows the total utility data for products X and Y. Assume that the prices of X and Y are $3 and $4, respectively, and that consumer income is $18.
A. Option A
B. Option B
C. Option C
D. Option D