Which of the Following Would Be a Consequence in an Economy

question 1

Multiple Choice

Which of the following would be a consequence in an economy where there is no money?

• A) There would be no way to save for the future.
• B) There would be no way to borrow.
• C) Exchanges would occur more quickly.
• D) Exchanges would take longer.
• E) There would be no more exchange.

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Definitions:

Shoes

Footwear items designed to protect and comfort the human foot while offering various styles and functions.

Income Elasticity

Measures how the quantity demanded of a good changes in response to a change in consumers' income.

Normal Good

A type of good for which demand increases as the income of consumers increases, and decreases when consumer income decreases.

Inferior Good

A type of good for which demand decreases as the income of consumers increases, opposite of a normal good.