Kyle wants to trade scuba lessons for surfing lessons. Ike wants to trade surfing lessons for scuba lessons. Kyle and Ike have
A. the basis for a double fiat exchange.
B. a double coincidence of wants.
C. a double incidence of demand.
D. the basis for a liquidity exchange.
Answer: B
Economics
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The long-run Phillips Curve indicates that macroeconomic policies are effective in increasing output and keeping prices stable in the economy
Indicate whether the statement is true or false
Economics
The only policy lever that is effective against unemployment when the AS curve is vertical is
A. Fiscal policy. B. Monetary policy. C. Laissez faire policy. D. Supply-side policy.
Economics