Which is an example of a barter system?
a. Instead of paying rent, you clean the house for the owner.
b. Instead of paying cash for a computer, you use a credit card.
c. Instead of paying the full amount for a car, you pay 10 percent in cash and pay for the rest in monthly installments.
d. Instead of paying for a purchase in Mexico in pesos, you use dollars from the United States.
Ans: a. Instead of paying rent, you clean the house for the owner.
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According to the new growth theory, ________ is the factor that motivates technological change
A) diminishing returns B) random chance C) decisions about how much human capital to acquire D) profit E) the replication of activities
An aggregate supply curve with a positive slope is associated with an economy in which: a. input prices and final goods prices always change by the same amount
b. firms expect output prices to be unaffected by changes in input prices. c. nominal wages and salaries do not change much in the short run. d. firms expect consumer demand to be unaffected by changes in prices of final goods.