To qualify as "money," a virtual currency does not have to be:
a. A unit of account.
b. A store of value.
c. A medium of exchange.
d. Legal tender.
e. To qualify as money, a virtual currency must be all of the above.
.D
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Import quotas on steel tend to result in higher quantities of steel being sold at lower prices than would be observed in the absence of a quota
Indicate whether the statement is true or false
The difference between the risk-free rate and the interest rate a particular investor has to pay is called the:
A. credit spread. B. risk premium. C. Both of these are true. D. Neither of these is true.
History has shown that over the long run, labor-saving technology has actually not reduced employment.
Answer the following statement true (T) or false (F)
A consulting company estimated market demand and supply in a perfectly competitive industry and obtained the following results:Qd = 25,000 ? 5,000P + 25MQs = 240,000 + 5,000P ? 2,000PI where P is price, M is income, and PI is the price of a key input. The forecasts for the next year are 
? = $15,000 and 
I = $20. Average variable cost is estimated to beAVC = 14 ? 0.008Q + 0.000002Q2 Total fixed cost will be $6,000 next year. What is the price forecast for next year?
A. $12 B. $68 C. $60 D. $20