One of the strong parallels between the development of virtual currencies and the development of currencies in the United States during the 1800s is:
a. Both began as physical currencies.
b. They owe their size and stature to governments, worldwide, that supported their growth and development.
c. They owe their growth and development to public trust.
d. All of the statements above are true.
.C
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Suppose the MPC is 0.60 . Assume there are no crowding out or investment accelerator effects. If the government increases expenditures by $200 billion, then by how much does aggregate demand shift to the right? If the government decreases taxes by $200 billion, then by how much does aggregate demand shift to the right?
a. $300 billion and $180 billion b. $300 billion and $300 billion c. $500 billion and $300 billion d. $500 billion and $500 billion
Use the following table to answer the next question. The base year is 2007. Hot DogsBaseballsBottles of SodaYearPriceQuantityPriceQuantityPriceQuantity2005$2.00100$5.0050$2.0010020064.001005.001002.0015020076.001005.001002.0020020088.001508.002004.00200200910.0020010.002004.00250Real GDP (constant dollars) for 2005 equals ________.
A. $1500 B. $1050 C. $650 D. $100