Trade Did Not Take Place Before the Introduction of Money

question 25

Multiple Choice

Trade did not take place before the introduction of money.

• A)only 1
• B)only 1 and 2
• C)only 1 and 4
• D)only 1,2,and 3
• E)All of the points are true.

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Definitions:

Frictionally Unemployed

Individuals temporarily out of work while transitioning between jobs or looking for their first jobs.

Deflation

A decrease in the general price level of goods and services over time.

High Inflation

A situation where the price level of goods and services rises rapidly and consistently, eroding purchasing power.

Inflation

The speed at which the overall price level for goods and services increases, leading to a decrease in purchasing power.