A Major Source of Inefficiency in Barter Economies Is That

question 24

Multiple Choice

A major source of inefficiency in barter economies is that they require:

• A)a standard of deferred payment to make trade possible.
• B)a double coincidence of wants in exchange.
• C)more liquid stores of value than do monetary economies.
• D)All of these options are correct.

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Definitions:

Chi-Square Statistic

A statistical measure used in tests of independence to analyze the frequency distribution of observed data versus an expected data set.

Null Hypothesis

A hypothesis that there is no significant difference between specified populations, any observed difference being due to sampling or experimental error.

Sample Data

A subset of data collected from a larger population, used to analyze and make inferences about that population.

Analysis Of Variance

A statistical method used to compare and analyze the differences among group means in a sample.