Macroeconomics (Book Only)
12th Edition
ISBN: 9781285738314
Author: Roger A. Arnold
Publisher: Cengage Learning
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Chapter 12.2, Problem 1ST
To determine
Explain the emergence of money in the barter system.
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There would be very few comedians in a barter economy. Do you agree or disagree with this statement? Explain your answer.
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Chapter 12 Solutions
Macroeconomics (Book Only)
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 - Prob. 1VQP
Ch. 12 - Prob. 2VQPCh. 12 - Prob. 3VQPCh. 12 - Prob. 4VQPCh. 12 - Prob. 5VQPCh. 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 a barter system in any economy and what are its drawbacks??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
- Money cannot serve as a medium of exchange unless it also serves as a store of value. Is this statement true or false? Explain.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_forwardWhat is a major disadvantage of using barter instead of money? Write a few sentences to explain x G. A- BIarrow_forward
- Briefly discuss the inconveniences of the barter economy. Write down the functions of money? Discuss those functions based on both money-commodity and money-debt approaches.arrow_forwardAt which stage money laundering is easy to detect?arrow_forwardWhat is a barter system and how does the existence of money affect barter system?arrow_forward
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