Barter:
A. is the major means of exchange in centrally planned economies.
B. accounts for over 30 percent of the dollar volume of all exchange in the U.S. economy.
C. entails the exchange of goods for goods.
D. is used to circumvent the problem of a lack of coincidence of wants among potential buyers
and sellers.
Answer: C
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A circular flow model shows the interrelationship between the ________ markets and the ________ markets
A) expenditure; income B) household; goods C) business; household D) goods; factor E) household; factor
If the quantity of jelly beans supplied is represented by the equation QS = -20 + 4P then the corresponding price of jelly beans is represented by the equation
A) P = 2.5 - 4QS. B) P = 0.25QS + 5. C) P = 4QS - 80. D) P = 0.5QS + 80.