Which of the following is true about the Bitcoin:
a. Bitcoin transactions are not cleared through clearing houses, such as Mt. Gox.
b. Bitcoin has a fixed exchange rate relative to the U.S. dollar and other currencies.
c. A Bitcoin can be purchased and sold via foreign exchange dealers, just like the dollar or euro.
d. Bitcoin transactions are highly visible and, therefore, taxable events.
.A
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Which of the following is true for the economy depicted in Figure 9-2?
a. potential output equals y1 b. it would be impossible for this economy to achieve an output greater than y1 c. when output y1 is achieved, the actual rate of unemployment will exceed the natural rate of unemployment d. when output y1 is achieved, the actual rate of unemployment will be less than the natural rate of unemployment
Why might the Federal Reserve intervene in foreign currency markets?
A) to ensure the safety of overseas investments for private investors B) to maintain a desired exchange rate for the dollar C) to ensure the safety of overseas investments for pension funds D) to ensure the safety of overseas investments for banks
Which of the following assets yields a 0 percent return?
A) U.S. Treasury Bills B) Excess reserves C) Deposits with correspondent banks D) Municipal bonds
The figure illustrates all of the following EXCEPT
A) if the union establishes by collective bargaining a wage rate that exceeds equilibrium at point Wu an excess quantity of labor will be supplied. B) if the union establishes by collective bargaining a wage rate that exceeds equilibrium, an excess quantity of labor will be demanded. C) there is a trade-off union leadership faces: Higher wages inevitably mean a reduction in total employment—a smaller number of positions. D) at higher wages, more workers will seek to enter the industry, thereby adding to the surplus of workers where QS is greater than QD.