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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Everything else equal, an increase in the supply of dollars in exchange for pesos:
A) will cause the dollars to depreciate against the pesos and will increase the quantity of dollars being traded in the foreign exchange market. B) will cause the dollars to appreciate against the pesos and will decrease the quantity of dollars being traded in the foreign exchange market. C) will cause the dollars to depreciate against the pesos and will decrease the quantity of dollars being traded in the foreign exchange market. D) will cause the dollars to appreciate against the pesos and will increase the quantity of dollars being traded in the foreign exchange market.
If a decrease in income leads to an increase in the demand for sardines, then sardines are
A) a necessity. B) an inferior good. C) a normal good. D) a neutral good.