48) Compared to an economy that uses a medium of exchange, in a barter economy (a) transaction costs are higher. (b) transaction costs are lower. (c) liquidity costs are higher. (d) liquidity costs are lower. Answer: A Question Status: Previous Edition

COMPARED TO AN ECONOMY THAT USES A MEDIUM OF EXCHANGE, IN A BARTER...

TEST BANK CHAPTER 3 WHAT IS MONEY? TÀI CHÍNH TIỀN TỆ

48) Compared to an economy that uses a medium of exchange, in a barter economy

(a) transaction costs are higher.

(b) transaction costs are lower.

(d) liquidity costs are lower.

Answer: A

Question Status: Previous Edition