Maurice Tutor

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Teaching Since: May 2017
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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 22 Jul 2017 My Price 11.00

medium of exchange

1) Compared to an economy that uses a medium of exchange, in a barter economy

A) transaction costs are higher.

B) transaction costs are lower.

C) liquidity costs are higher.

D) liquidity costs are lower.

2) When compared to exchange systems that rely on money, disadvantages of the barter system include:

A) the requirement of a double coincidence of wants.

B) lowering the cost of exchanging goods over time.

C) lowering the cost of exchange to those who would specialize.

D) encouraging specialization and the division of labor.

3) The conversion of a barter economy to one that uses money

A) increases efficiency by reducing the need to exchange goods and services.

B) increases efficiency by reducing the need to specialize.

C) increases efficiency by reducing transactions costs.

D) does not increase economic efficiency.

Answers

Maurice Tutor
(5)
Status NEW Posted 22 Jul 2017 10:07 AM My Price 11.00

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