A System of Barter Has Substantial Transactions Costs Because

question 18

Multiple Choice

A system of barter has substantial transactions costs because

• A)taxes under such a system are generally a large fraction of the value of output.
• B)traders must spend considerable time searching for trading partners.
• C)the uncertainties of trade result in high legal fees being incurred to draw up binding contracts.
• D)the uncertainties of trade result in high insurance premiums.

---

Definitions:

Multicultural Education

An educational approach that recognizes and incorporates the cultural diversity of students to enrich learning experiences.

Meta-Analysis

A statistical technique for combining the results of multiple studies in order to derive a comprehensive understanding of the effects of a specific intervention or phenomenon.

Liberation Psychotherapy

A therapeutic approach that aims to empower clients by addressing and overcoming sociopolitical and cultural constraints that impact mental health and wellbeing.

Consciousness-Raising Therapy

A form of therapy aimed at increasing the client's awareness of underlying psychological forces and societal injustices.