Virtual currency unit 2 (VCU2) is different from VCU1 because:
a. VCU1 cannot be spent in the real world; VCUs can be spent in the real world.
b. In terms of convertibility, there is no difference; both VCU2 and VCU3 can be purchased with and sold for legal tender.
c. VCU2 can directly affect real world demand, whereas VCU1 cannot affect real-world demand.
d. In terms of their potential to change a nation's monetary base, there is no difference because neither VCU1 nor VCU2 affect a nation's monetary base.
.D
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Which of the following do you know for certain is true? a. The marginal utility of Diane's second Coke is greater than the marginal utility of her third pretzel
b. The marginal utility of Diane's second Coke is greater than the marginal utility of Ken's third pretzel. c. The marginal utility of Diane's second Coke is greater than the marginal utility of her third Coke. d. The total utility of two Cokes is greater than the total utility of three Cokes. e. The marginal utility of Diane's second Coke is greater than the marginal utility of Ken's third Coke.
Which of the following is most likely to have inelastic demand?
a. an expensive sports car b. experimental and unnecessary cosmetic surgery c. organic fruits and vegetables d. an effective cancer-fighting drug
When the demand for a product decreases but the supply of the product remains unchanged,
A. the price of the product will rise and quantity will decrease. B. the price of the product will be unaffected. C. the price of the product will fall and quantity will remain the same. D. the price of the product will fall and the quantity will fall.
Which of the following is a market in which banks lend reserves to one another?
A) required reserve market B) open market C) discount market D) federal funds market