As Opposed to a Payments System Based on Barter,a Payments

question 11

Multiple Choice

As opposed to a payments system based on barter,a payments system based on money

• A)requires a double coincidence of wants.
• B)leads to less specialization.
• C)makes trades less costly.
• D)None of the above is correct.

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Definitions:

Structural Unemployment

Structural unemployment occurs when there is a mismatch between the skills workers possess and the skills needed by employers, often due to technological changes or shifts in the economy.

Marketable Skills

Abilities or proficiencies that are in demand by employers and can be utilized for economic gain.

Wage Rates

The amount of money paid to employees for their labor, usually expressed on an hourly, daily, or piecework basis.

Cyclical

Referring to fluctuations in economic activity that occur in cycles, often related to changes in business conditions.