A barter economy is an economy where

A) goods and services are exchanged for money.
B) money is exchanged for goods and services.
C) goods and services are exchanged for other goods and services.
D) goods and services are exchanged for liabilities.

Answer: C

Economics

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If a bank receives a new transaction deposit of $10,000 and the reserve ratio is 15 percent, then the bank could expand its loans by as much as

A) $8,500. B) $1,500. C) $66,700. D) $15,000.

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Refer to Figure 18.3. In autarky, the maximum amount of scooters that Livonia can produce is

A) 120. B) 100. C) 80. D) 40.

Economics