One of the strong parallels between the development of virtual currencies and the development of currencies in the United States during the 1800s is:
a. Both began as physical currencies.
b. They owe their size and stature to governments, worldwide, that supported their growth and development.
c. They owe their growth and development to public trust.
d. All of the statements above are true.
.C
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The above table gives some of the costs of the Delicious Pie Company. What is the total fixed cost of producing 100 pies?
A) $300 B) $400 C) $700 D) More information is needed to calculate the total fixed cost.
Adverse selection in insurance requires that
a. all people face the same risk b. potential customers facing more risk are no more interested in purchasing insurance c. people are risk averse d. insurers can tell higher risk people from lower risk people
Suppose a policy change will generate $100,000 of benefits for low-income families and $120,000 of costs for high-income families. This change can best be described as
A. Pareto efficient. B. equitable. C. potentially efficient. D. inefficient.
Tying contracts, which is prohibited under the Clayton Act, refers to the situation where a producer requires that a buyer:
A. Can resell the product but only at a higher price than the original purchase price B. Cannot buy a similar product from other producers if that buyer wants to continue buying its product C. Buy another of its products as a condition for buying the desired product D. Cannot ever resell the product bought