The statistical details on the U.S. balance of international payments between 1790 and 1860 help economic historians determine
(a) what the U.S. sold domestically.
(b) how other countries paid for their own domestic goods and services.
(c) how the U.S. paid other countries for their exports.
(d) changes in domestic trade patterns.
(c)
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The fact that any pareto efficient equilibrium can be achieved through competition by adjusting endowments is called
A) the second welfare theorem. B) the first welfare theorem. C) the third welfare theorem. D) That is not possible.
As the variety of goods and services increases, barter becomes:
a. easier because the chance of there being a double coincidence of wants increases. b. harder because the chance of there being a double coincidence of wants increases. c. easier because the chance of there being a double coincidence of wants decreases. d. harder because the chance of there being a double coincidence of wants decreases. e. easier because people have more options to choose from.