The primary benefit of a monetary system of exchange compared to a barter system is the increased
a. ability to record transactions.
b. time necessary to find trading partners.
c. time devoted to shopping.
d. efficiency in arranging transactions.
d
Economics
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Zero correlation between two variables implies that:
A) change in one variable causes the other to change. B) both variables move in the same direction. C) the variables are not related to each other. D) both variables move in the opposite direction.
Economics
When financial institutions are able to reduce the costs of information for each service they offer by applying the same information source to each service, we say that the financial institution is realizing
A) economies of scope. B) economies of scale. C) increasing returns. D) diminishing marginal returns.
Economics