The Bitcoin:
a. Is an example of VCU1.
b. Is an example of VCU2.
c. Is an example of VCU3.
d. Is an example of VCU4.
e. None of the above because the Bitcoin is not a virtual currency.
.D
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Data for an economy shows that the unemployment rate is 10%, the participation rate 80 percent, and 200 million people 16 years or older are not in the labor force. How many people are in the labor force in this economy?
A. 200 million B. 800 million C. 80 million D. 1.0 billion
What is the main difference between a demand shock stemming from monetary policy and a demand shock that comes from a change in spending?
A) In the short-run, an autonomous monetary policy easing lowers real interest rates and raises aggregate output whereas a positive spending shock has the opposite effect on both variables. B) An autonomous monetary policy easing raises inflation permanently whereas a positive spending shock only raises inflation temporarily. C) An autonomous monetary policy easing has a temporary effect on the real interest rate whereas a positive spending shock has a permanent effect on the real interest rate. D) all of the above E) none of the above
Which of the following fiscal policy actions would definitely cause a reduction in the size of an inflationary gap?
A) cuts in taxes and increases in government spending B) increases in government spending C) increases in taxes D) cuts in taxes
If companies that were creating pollution had to pay the social cost of production, they would want to supply:
A. more at any given price. B. less at any given price. C. the same amount at the equilibrium price. D. the same amount at any given price.