Which of the following is an example of a barter system?
(A) Instead of paying for a purchase in Mexico in pesos, you use dollars from the United States.
(B) Instead of paying the full amount for a car, you pay 10 percent in cash and the rest in monthly installments.
(C) Instead of paying cash for a computer, you use a credit card.
(D) Instead of paying rent, you clean the house for the owner.
Ans: (D) Instead of paying rent, you clean the house for the owner.
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If the government is running a cyclically adjusted budget deficit, ________ fiscal policy is ________ because aggregate expenditure is increasing
A) discretionary; contractionary B) discretionary; expansionary C) expansionary; ineffective D) contractionary; appropriate
(Appendix) The winner in an auction bidding process will
A. get less value than was paid in the bidding. B. on average pay an amount equal to the product's true value. C. get more value than was paid in the bidding. D. win the bid if he takes the average of his best estimate of the starting bid and the items true value.