Which of the following is an example of a barter transaction?
A) An individual pays her electric bill with a check.
B) An individual pays her electric bill with currency.
C) An individual provides three light bulbs to her neighbor in exchange for two gallons of milk.
D) An individual deposits three twenty-dollar bills in her checking account.
C
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Which of the following changes would clearly decrease the supply of money in the banking system?
a. an increase in the percentage of money people want to hold as currency and a decrease in the fraction of deposits banks want to hold as excess reserves b. an increase in the percentage of money people want to hold as currency and an increase in the fraction of deposits banks want to hold as excess reserves c. a decrease in the percentage of money people want to hold as currency and a decrease in the fraction of deposits banks want to hold as excess reserves d. a decrease in the percentage of money people want to hold as currency and an increase in the fraction of deposits banks want to hold as excess reserves
If the quantity supplied stays the same no matter what the price is, then supply is
A) perfectly inelastic. B) perfectly elastic. C) unit elastic. D) undefined.