A barter economy is one in which:
A. money serves as a medium of exchange.
B. only precious metals are accepted as money.
C. goods are traded directly for other goods.
D. paper money is backed by gold.
Answer: C
Economics
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In the figure above, originally the apartment rental market is in short-run and long-run equilibrium with a rent of $600 per month. Then the government imposes a rent ceiling of $500 per month. The deadweight loss is borne by
A) the producers only. B) the consumers only. C) all producers and some consumers. D) all consumers and some producers.
Economics
Real GDP is GDP in a given year
A) valued in the prices of the base year. B) valued in the prices of that year. C) adjusted only for unanticipated inflation. D) adjusted only for anticipated inflation.
Economics