The virtual currency battle between Facebook and Zynga reminds us that:
a. Relatively small companies with virtual currencies, like Zynga, have little chance of challenging the demands of large companies, like Facebook, with virtual currency platforms.
b. In the future, virtual currencies will be created, destroyed, and evolve in many different ways.
c. Community really does follow commerce.
d. To gain widespread trust and usage, a virtual currency does not need a large base of users.
.B
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What is the opportunity cost of 1 tractor in terms of automobiles for the U.S. and Japan, respectively?
A. 0.5 automobiles and 2 automobiles
B. 0.5 automobiles and 1 automobile
C. 2 automobiles and 1 automobile
D. 2 automobile and .25 automobiles
When foreign residents increase their demand for U.S. dollars, ceteris paribus,
A. Foreign residents, at the same time, reduce their supply of foreign currency to the foreign exchange market. B. The dollar price of foreign currency will rise. C. The dollar will appreciate in value. D. The dollar will depreciate in value.
Data for an economy show that the unemployment rate is 6 percent, the participation rate 60 percent, and 200 million people 16 years or older are not in the labor force. How many people are unemployed this economy?
A. 43.2 million B. 12.0 million C. 18.0 million D. 28.8 million
Suppose a country, whose production and consumption of coffee is large relative to the world market, has just entered the global market. If the country is a net exporter of coffee, we would expect the world:
A. supply curve to shift more to the left than the world demand curve as a result. B. demand curve to shift more to the right than the world supply curve as a result. C. demand curve to shift more to the left than the world supply curve as a result. D. supply curve to shift more to the right than the world demand curve as a result.