The regular earnings profile of an individual throughout his or her lifetime is
A) the Lorenz curve.
B) the age-earnings cycle.
C) wealth.
D) income-in-kind.
Answer: B
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Governments and central banks can track virtual currencies and gain considerable control over their use if:
a. Virtual currency transactions are only among domestic residents (i.e., no foreign-related transactions). b. Virtual currency transactions are only between domestic and foreign residents. c. Virtual currency transactions are recorded (i.e., debited and credited) in clearing houses. d. Virtual currency transactions are peer-to-peer rather than through clearing houses.
The more complicated a task, the greater the ability to economize on ________ through specialization and centralized control
a. transaction costs b. marginal cost c. sunk cost d. fixed cost