A disadvantage of the barter system is that
A. people must produce all their own food, clothing, and shelter.
B. the opportunity to specialize is greatly reduced.
C. no trade occurs.
D. gold is the only unit of account.
Answer: B
Economics
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Suppose that the exchange rate between Japanese yen and U.S. dollars is originally 130 yen to the dollar. If it then changes to 150 yen to the dollar, imports of Japanese goods into the United States will tend to: a. rise
b. fall. c. stay the same. d. change in an indeterminate direction.
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There is statistical evidence that managers' salaries are tied most closely to
a. profits at the profit-maximizing output. b. sales volume. c. cost per unit at minimum-cost output. d. the closeness of output to the point where MR = MC.
Economics