If each person purchases an item, and then they only use it a small percentage of the time, this is an example of a(n) ________ model.

A major source of inefficiency in barter economies is that they require

A) a standard of deferred payment to make trade possible. B) more liquid stores of value than do monetary economies. C) a double coincidence of wants in exchange. D) All of the above are correct.

If you go to Europe to work and send funds home to your family living in the United States, this is known as a

A) service import. B) merchandise import. C) service export. D) unilateral transfer.