Which of the following is true about the Bitcoin:
a. New Bitcoins are created by private, non-Bitcoin affiliated individuals (i.e., not Bitcoin employees) called miners, who solve computer algorithms to earn the newly created Bitcoins.
b. New Bitcoins are created by the Bank of Bitcoin (BoB), which is (for all intents and purposes) the central bank in charge of Bitcoin's supply.
c. New Bitcoins are created by Bitcoin Inc., which is a company, like Facebook or Microsoft, thathas developed this virtual currency.
d. Bitcoin transactions are cleared through clearing houses, such as Mt. Gox.
e. Bitcoin has a fixed exchange rate relative to the U.S. dollar and other currencies.
.A
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Other things equal, assume consumer demand for children's toys increases. The result is a(n):
a. rightward shift in the market demand for labor curve in the toy industry. b. increase in the marginal revenue product of firms in the toy industry. c. increase in derived demand for workers in the toy industry. d. all of these.
Suppose the price of gold is initially $300 per ounce in New York and 450 Canadian dollars per ounce in Toronto, Canada. If the law of one price holds for gold, the nominal exchange rate is ________ Canadian dollars per U.S. dollar. If Canada experiences inflation, such that the price of gold rises to 510 Canadian dollars per ounce, but the U.S. does not experience any inflation, the nominal exchange rate would be ________ Canadian dollars per U.S. dollar.
A. 0.67; 0.59 B. 1.70; 1.50 C. 1.50; 1.70 D. 0.59; 0.67
As a percentage of government receipts, corporate income taxes are larger than personal income taxes and Social Security taxes combined.
Answer the following statement true (T) or false (F)
For an economy starting at full employment real GDP, a decrease in investment results in a(n)
A. decrease in full-employment output. B. inflationary output gap. C. recessionary output gap. D. increase in full-employment output.