The exchange of one good for another, without the use of money, is known as

a. acquisitive exchange
b. liquidity
c. volatility
d. barter
e. currency

D

Economics

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Tonya, who is rich, and Jerome, who is poorer, both buy orange juice and croissants for lunch at the student cafeteria. Their budget constraints on a diagram with orange juice on the vertical axis and croissants on the horizontal have the same

A) horizontal intercepts. B) vertical intercepts. C) slopes. D) midpoints.

Economics

The problem for the prisoners in the prisoners' dilemma game in the above table is that

A) the Nash equilibrium is not the best outcome. B) there is no equilibrium outcome. C) neither prisoner has a workable strategy. D) None of the above answers is correct.

Economics