Would the use of money, as opposed to barter, increase the growth rate of real GDP in a country over time? Why or why not?
What will be an ideal response?
Yes, because money makes exchanges easier and increases specialization. Greater specialization raises productivity, which increases the growth rate of real GDP.
Economics
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Which of the following statements is true?
A) Lower infant mortality rates are always a result of income growth in countries. B) Lower infant mortality rates are related to income growth in countries. C) The higher the income per capita, the higher the infant mortality rate. D) There is no correlation between income per capita and infant mortality rates.
Economics
Refer to the table above. What is the total benefit that the consumer derives when he consumes 4 quarts of milk?
A) $8 B) $22 C) $24 D) $25
Economics