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WAEC Economics 2002 Question 29

Question 29

Money and Inflation

Which of the following is a problem of trade by barter?

  1. A.Exchange rate determination
  2. B.Hoarding
  3. C.How to produce
  4. D.What to produce
Show the answer and explanation

Answer: A (Exchange rate determination)

Explanation

Without a common measure of value, it is hard to decide how much of one good should exchange for another.