1. a) Exactly what is required for a barter transaction to occur? b) Why do many...

1. a) Exactly what is required for a barter transaction to occur? b) Why do many economists argue that a barter transaction is not as “efficient” as a money-based transaction?

2. Please describe the concept of “counterfeit” and give an example of a situation involving this concept.

3. What is “hyperinflation”, exactly? Why must every country’s government worry about it? Give an example of hyperinflation: why is it so harmful to a nation’s economy and its people? What is a bank, exactly? What does a bank do, exactly?

4. “A bank is just like any other corporation doing business in America—like Ford, or Target”… WHY IS THIS STATEMENT UNTURE??? WHAT IS SO SPECIAL ABOUT BANKS?????

5. What is the definition of the term “the REAL rate of interest” or “the REAL interest rate”?

6. What are three of the terrible harms caused by ten percent annual (yearly) inflation rates? Which groups in our economy are hardest hit by 10% inflation? Why?

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Rahul Sunny answered 2 years ago

5. What is a “barter” transaction, exactly? Please give an example of a barter transaction that...

5. What is a “barter” transaction, exactly? Please give an example of a barter transaction that was not discussed previously. 6. a) Exactly what is required for a barter transaction to occur? b) Why do many economists argue that a barter transaction is not as “efficient” as a money-based transaction? 7. Please describe the concept of “counterfeit” and give an example of a situation involving this concept. 8. What is “hyperinflation”, exactly? Why must every country’s government worry about it?...

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1. a) Exactly what is required for a barter transaction to occur? b) Why do many...

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