Author Question: If the prices of goods and services were expressed in terms of carved wooden beads, then the carved ... (Read 247 times)

Beheh · **on:** Jun 30, 2018

If the prices of goods and services were expressed in terms of carved wooden beads, then the carved wooden beads would be serving as a

A) store of value.
B) medium of exchange.
C) mechanism for transforming present purchases into future purchases.
D) unit of account.

Question 2

Agraria is a small agricultural country that does not trade with the rest of the world. Based on this information, we can conclude that Agraria is a(n) ________ economy.

A) closed B) communist C) command D) open