Barter requires the
A) exchange of goods and services directly for other goods and services.
B) use of fiat money as a medium of exchange.
C) use of commodity money as a medium of payment.
D) the triple non-coincidence of wants.
E) use of money as a unit of account.
Question 2
Downward wage rigidity arises when:
A) workers expect wages to increase due to economic expansion.
B) workers and firms resist to wage cuts.
C) firms resist increasing wages.
D) quantity of labor demanded exceeds the quantity of labor supplied.
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