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.
d
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Forecasts by the Congressional Budget Office show spending on Social Security, Medicare,
and Medicaid rising from 10.1 percent of GDP in 2015 to ________ percent of GDP in 2090, and by 2090 the federal government will be spending, as a fraction of GDP, ________ on these three programs as it currently spends on all programs combined. A) 16.2 percent; half as much B) 19.8 percent; half as much C) 19.8 percent; nearly as much D) 16.2 percent; nearly as much
If a country has an absolute advantage in producing a product, it must also have a comparative advantage in producing that product
Indicate whether the statement is true or false