In a barter economy, where prices are stated in terms of relative prices, with n number of goods there will always be Multiple Choice exactly n relative prices. fewer than n relative prices. at least n relative prices. n/2 relative prices.
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- When the manager of a department store attaches price tags to his/her products, he/she is using money as a Group of answer choices unit of transfer. unit of account. store of value. medium of exchange.One issue with barter is that sometimes there are commodities that cannot be broken down to smaller quantities. This refers to ______________. a. Coincidence of wants b. Difficulty in storing c. Common unit of measure d. Indivisibility of goodsThe requirement of a "double coincidence of wants" is the chief a. advantage; barter b. disadvantage; barter c. advantage; monetary O d. disadvantage; monetary of the exchange system.
- CBK tips new digital shilling to take on high M-Pesa chargesThe proposed Central bank digital currency (CBDC) will help bring down the transaction fees currentlycharged on digital payments in what could make it the biggest competitor to Kenya's mobile moneysector.The banking regulator says the virtual currency that will be exchangeable on a one-to-one basis withphysical cash would work in a similar way to the existing mobile money product in the market, withusers able to transfer it between wallets or accounts.The Kenyan Central Bank in its aim above will ultimately… a) … reduce the amount of M2 money.b) … reduce the amount of bank notes and coins in circulation.c) … increase the amount of M1 money.d) … reduce the amount of bank notes and coinsExplain why you would be more or less willing to buygold under the following circumstances:a. Gold again becomes acceptable as a medium ofexchange.b. Prices in the gold market become more volatile.c. You expect inflation to rise, and gold prices tend tomove with the aggregate price level.d. You expect interest rates to rise.Explain the problem of double coincidence of wants faced under barter system.
- The difference between M1 and M2 is given by which of the following? Group of answer choices M1 is limited to currency, whereas M2 contains M1 plus traveler’s checks and money incheckable accounts. M1 is made up of currency, traveler’s checks, and money in checkable accounts, whereasM2 contains M1 plus savings deposits and time deposits. M1 includes currency and traveler’s checks, whereas M2 contains M1 plus money inchecking accounts. M1 includes currency, coins, gold, and silver, whereas M2 does not contain gold andsilver.The problem of double coincidence of want was a huge standing block that subdued the smooth process of the barter economy. Money was introduced to solve this problem. Discuss how money was used to resolve the problem of double coincidence of want and any other problem that affected the smooth running of the barter economy ?Please give me correct answer and full explanation otherwise i give multiple downvote Note:- Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate. Which of the following is correct in respect of “money as a medium of exchange”: ch of the following is correct in respect of “money as a medium of exchange” : I. Money facilitates the exchange of goods. II. Money reduces or eliminates the need for barter. III. Money is an object that can be held and exchanged for goods and services at a later. Only I and II are correct. I, II and III are correct. Only I is correct. Only III is correct.
- 3. What are the inherent disadvantages of a barter system?barter – the trade of foods for goods- is booming. according to the us department of commerce, barter accounts for 30% of the world’s total business, and experts estimate tat 65% of fortune 500 companies engage in barter to one degree or another. if a medium of exchange clearly had advantages over barter, why does barter exist today?Discuss the challenges encountered with barter trade (Chapter 21).
