Cigarettes served as money in some POW camps during World War II. Given this fact, we would expect to observe
A) no one ever smoking a cigarette.
B) people usually resorting to barter rather than using cigarettes as money.
C) prices of other goods expressed in terms of cigarettes.
D) only government-issued cigarettes being accepted as money.
C
You might also like to view...
In a two time-period example, economic efficiency is maximized when
a. The marginal net benefits are maximized in both time periods b. The discount rate is set equal to the marginal benefits c. The marginal net benefit in the first time period is set equal to the present value of marginal net benefits in the second time period d. The marginal net benefits in the first period are set equal to the discount rate in the second time period e. The marginal net benefits in the first period are set equal to the user costs in the second time period
A graph of the value of one variable against the value of another variable is known as a
A) two-dimensional graph. B) three-dimensional graph. C) time-series graph. D) scatter diagram. E) two-variable graph.