If a medium of exchange clearly has advantages over barter, why does barter exist today?
18.1/ Barter — the trade of goods for goods — is booming. According to the U. S. Department of Commerce, barter accounts for 30% of the world’s total business, and experts estimate that 65% of Fortune 500 companies engage in barter to one degree or another. If a medium of exchange clearly has advantages over barter, why does barter exist today?
18.4/ Bitcoin is a private electronic or digital cash that can be transferred online (www.bitcoin.com). It is independent of any central bank or government authority that has arisen recently as an alternative way to make payments for goods or services or to transfer funds privately. It is accepted in trade by merchants and individuals in many parts of the world, and has served as a hedge against a financial or banking crisis. Investigate the pros and cons of Bitcoin as an alternative to the dollar, euro, or gold as digital currency.
CHAPTER 19
19.1/ .We noted that in 1900, the fixed exchange rate between the British pound and the U. S. dollar was £1 equals $5. What is the exchange rate today? Whose currency has gained the most in purchasing power? What caused this dramatic change in the exchange rate?
25.9 Why did unemployment stay so high during the 1930s, in double digit levels? Why has employment grown so slowly since 2009?
