Bitcoin is a:
a. Virtual currency that can be converted freely into a wide variety of real-world (legal tender) currencies.
b. Virtual currency that keeps track of owners and users by means of a clearing house called Mt. Gox.
c. Virtual currency that publishes all Bitcoin-related domestictransactions online but keeps its international transactions confidential. This has led to Bitcoin's widespread use for illegal international (not domestic) transactions.
d. All of the statements above are true.
.A
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The above figure shows the market for finish carpenters in Bozeman. If there is a minimum wage set at $18, what is true?
A) The lowest wage for which someone is willing to work is $18 an hour. B) The quantity of jobs increases to 400. C) The lowest wage for which someone is willing to work is $20 an hour. D) 200 workers are employed. E) The quantity of jobs demanded is more than the quantity supplied.
How does money function as a unit of account? a. Money has intrinsic worth as a commodity
b. Money is convertible into commodities that have intrinsic worth. c. The prices of all goods and services are measured in terms of money. d. Things that function as money can do so because people know there is a standard of value that ultimately backs the money even if it is only faith. e. Bank accounts make it easy for people to store their wealth.
How have firms and organizations devised ways to overcome information problems without government intervention? Give three examples
Please provide the best answer for the statement.
A perfectly competitive firm is producing zero units of output in the short run. We know that price is
A. below the minimum point of its average fixed cost curve. B. between the minimum points of its average total cost curve. C. below the minimum point of its average variable cost curve. D. below the minimum point of its average total cost curve.