An economy using money is more efficient that a barter economy because the use of money reduces the time spent searching for trading partners with a coincidence of wants and therefore more time can be spent producing goods and services

Which of the following is most consistent with the time-inconsistency problem?

A) while it is ten o'clock in the morning in Chicago, it will be eleven o'clock in New York City B) a monetary policy action that is implemented in January will not begin to influence economic variables for several months C) a parent who acquiesces to a child's demand just to keep them quiet in a public setting D) an economic model with adaptive expectations

Complete the following table by finding the average and marginal product. At what input-output level will average variable cost begin to rise? Explain