The more specialized labor becomes, the:
a. less likely it is that a double coincidence of wants will exist, and the less likely it is that monetary exchange will develop.
b. less likely it is that a double coincidence of wants will exist, and the more likely it is that monetary exchange will develop.
c. more likely it is that a double coincidence of wants will exist, and the less likely it is that monetary exchange will develop.
d. more likely it is that a double coincidence of wants will exist, and the more likely it is that monetary exchange will develop.
e. more likely it is that the individual is producing only what he or she wants to consume.
Question 2
Which of the following can expand the production possibilities frontier?
a. Improved patent laws
b. Legal reforms that increase transaction costs
c. Reductions in the length of patent protection
d. Stringent tax laws for R&D companies
e. The advent of a labor deepening technology
Double Chin
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Efficient Allocation of Labor between Sectors
Rosalind Franklin’s Photo 51, revealing DNA to be a double helix