The Phillips curve

Permanent resource price differentials are caused by

a. differences in resource quality b. differences in the time and training required to perform the job c. differences in nonmonetary aspects of the job d. a lack of resource mobility e. all of the above

Which of the following statements is true of a barter system? a. In a barter system economy, no rates of exchange are defined

b. In a barter system economy, there are as many different rates of exchange as there are pairs of goods to trade. c. In a barter system economy, rates of exchange are expressed in goods per dollar. d. In a barter system economy, rates of exchange are expressed in dollars per good. e. In a barter system economy, rates of exchange are denominated in gold or silver.