Virtual currency unit 2 (VCU2) is different from VCU1 because:
a. VCU1 can only be purchased with real-word currencies. VCU2 can be purchased with real-world currencies and also earned in the virtual world.
b. VCU1 cannot be converted into legal tender; VCU2 can be converted into legal tender.
c. VCU1 can only be earned in the virtual world; VCU2 can be earned in the virtual world or purchased with legal tender.
d. In terms of spending potential, there is no difference; both VCU1 and VCU2 can be spent in the real world.
.C
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If the consumer price index is 120 in 2009 and 139.2 in 2010, then the rate of inflation for 2010 is 39.2 percent
a. True b. False Indicate whether the statement is true or false
At the time the government of Bulgrovia issued new bonds, they issued them at a price that reflected the risk-free rate because investors had no concerns regarding default risk, so did not require a risk premium. That risk-free rate was 4%. These bonds currently have one year to maturity and you notice the yield is 20%. Can you calculate the probability that the Bulgrovian government will default?
What will be an ideal response?
The free-rider problem is
A. the incentive that people have to avoid paying for a public good. B. that people cannot be forced to accept public goods. C. the incentive that people have once they are receiving welfare to keep getting welfare. D. the use of private goods in one state by residents of another state.
Which of the following is consistent with secular deflation?
A. a persistently decreasing price level caused by money being withdrawn from the economy B. a persistently increasing price level caused by several periods of economic growth with decreasing AD C. a persistently decreasing price level caused by several periods of economic growth with stable AD D. a persistently decreasing price level caused by increases in government expenditures