Which of the Following Statements Is True of a Barter

question 56

Multiple Choice

Which of the following statements is true of a barter system?

• A)In a barter system economy,no rates of exchange are defined.
• B)In a barter system economy,there are as many different rates of exchange as there are pairs of goods to trade.
• C)In a barter system economy,rates of exchange are expressed in goods per dollar.
• D)In a barter system economy,rates of exchange are expressed in dollars per good.
• E)In a barter system economy,rates of exchange are denominated in gold or silver.

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Definitions:

Bills Of Exchange Act

Legislation that regulates the transfer, creation, and definition of bills of exchange, a type of financial instrument.

Endorse

To give support, approval, or recommendation publicly, or to sign the back of a financial instrument, transferring rights or ownership.

Refuse

To indicate unwillingness to accept, do, engage with, or consent to something.

Payable After Sight

A payment term indicating that the amount is due a certain number of days after the invoice or bill is presented and seen by the debtor.