Macroeconomics
13th Edition
ISBN: 9781337617390
Author: Roger A. Arnold
Publisher: Cengage Learning
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Chapter 12.2, Problem 1ST
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Explain the emergence of money in the barter system.
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What are the inherent disadvantages of a barter system?
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Chapter 12 Solutions
Macroeconomics
Ch. 12.2 - Prob. 1STCh. 12.2 - Prob. 2STCh. 12.2 - Prob. 3STCh. 12.3 - Prob. 1STCh. 12.3 - Prob. 2STCh. 12.3 - Prob. 3STCh. 12.4 - Prob. 1STCh. 12.4 - Prob. 2STCh. 12.4 - Prob. 3STCh. 12 - How much money did you make last year? What is...
Ch. 12 - Prob. 2QPCh. 12 - Prob. 3QPCh. 12 - Prob. 4QPCh. 12 - Prob. 5QPCh. 12 - Prob. 6QPCh. 12 - Prob. 7QPCh. 12 - Prob. 8QPCh. 12 - Prob. 9QPCh. 12 - Prob. 10QPCh. 12 - Prob. 11QPCh. 12 - Prob. 12QPCh. 12 - Prob. 13QPCh. 12 - Prob. 14QPCh. 12 - Prob. 15QPCh. 12 - Prob. 16QPCh. 12 - Prob. 17QPCh. 12 - Prob. 1WNGCh. 12 - Prob. 2WNGCh. 12 - Prob. 3WNGCh. 12 - Prob. 4WNGCh. 12 - Prob. 5WNGCh. 12 - Prob. 6WNGCh. 12 - Prob. 7WNGCh. 12 - Prob. 8WNGCh. 12 - Prob. 9WNGCh. 12 - Prob. 10WNG
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- What is barter system in an economy and what are its drawback!arrow_forwardHow does money overcome the problem of barter system explain?arrow_forwardIf ours were a barter economy, how would you pay your tuition bill? What if your college did not want the goods or services you offered in payment?arrow_forward
- Is barter becoming more or less prevalent in the US economy? Why?arrow_forwardIs barter becoming more or less prevalent in the US economy? What are some underground market activities that are considered legal? What are some underground market activities that are considered illegal?arrow_forwardWhat is a barter system in any economy and what are its drawbacks??arrow_forward
- Before the introduction of money, there was a system of trade called the barter trade. Discuss the importance of barter trade in relation to the time it existed?arrow_forwardDiscuss in detail that how different functions of money (for instance, mediumof exchange, a unit of account, etc.) help to solve problems of the barter economy.arrow_forwardDifferentiate the barter vs. coinage vs. paper/polymer.arrow_forward
- Before the introduction of money, there was a system of trade called the barter trade. Discuss the importance of barter trade in relation to the time it existed.? Do you think barter trade in spite of the use of money today holds any value in modern times? What is money?arrow_forwardPersonal possession of currency is prohibited in U.S. prisons, although, in practice, prisoners still exchange goods and services. U.S. prisoners used cigarettes as a medium of exchange until smoking was banned in U.S. prisons in 2003. After 2003, prisoners looked to other items on the commissary menu to facilitate exchange. In 2008, the Wall Street Journal reported that energy bars had caught on as money in some U.S. prisons. One important difference between using energy bars and using dollars as money is that____ have intrinsic value. Energy bars are an example of ___ money.arrow_forwardMONETARY INSTITUTIONS (chapter 17) What are the inherent disadvantages of a barter system? Note: please do not give a copy & paste answer from Chegg. or course heroarrow_forward
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