The reason Bitcoin's growth rate is very similar to Milton Friedman's k-percent rule is because:
a. Bitcoin has no control over the virtual currency's growth rate. Rather, its growth depends on how quickly individuals and merchants use and accept the currency.
b. It is not tied to any nation's business cycle.
c. Bitcoins are programmed to increase at the same rate as the world's real GDP.
d. All of these statements are true.
.B
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The "discount rate" is the rate used by the Fed when
A) the Fed extends a short-term loan directly to a commercial bank. B) the Fed extends a short-term loan to one of the regional Federal Reserve banks. C) the Fed calculates the present value of particular long-term investment projects. D) the Fed makes cash available for the federal government.
Firms achieve productive efficiency in the long run by
a. striving to minimize fixed cost b. striving to maximize revenue c. producing at their minimum long-run average cost d. producing at their minimum long-run marginal cost e. producing the output consumers want most