Economics An article in the Wall Street Journal in 2021 observed, "And, while bitcoin is referred to as a digital currency, it doesn't meet at least one important criterion of a currency: It lacks widespread usage as a medium of exchange in legitimate commercial transactions. Source: Dan Weil, "The Case for and Against Investing in Bitcoin," Wall Street Joumal, January 8, 2021. All of the following may help explain the slow adoption of cryptocurrencies except O A. the technology behind the cryptocurrency system may make it possible for investors to manipulate the prices of cryptocurrencies. O B. due to its decantralized computer system, cryptocurrencies may be more susceptible to computer hacking. OC. the vast majority of consumers may not care that eryptocurrencies provide no record of their transactions. O D. there is concem that the Federal Reserve does not include virtual currencies like in M1 or M2. What advantages might using cryptocurrencies have over buying things with cash, a check, or a credit card? What would need to happen for those advantages to be sufficient to cause people to switch to cryptocurrencies from other means of payment? One advantage of using cryptocurrencies to buy and sell goods and services is that O A. there is no permanent record of the transaction, but they are unlikely to be widely used unless their values in terms of government issued money become more stable. O B. there is a detailed permanent record of the transaction, but they are unlikely to be widely used unless their values in terms of govemment issued money become more stable. OC. they are not susceptible to hacking attempts, but they are unlikely to be widely used uniess they become more valuable. O D. developing countries would have less need for bartering, but they are unlikaly to be widely used unless they become more valuable.
Economics An article in the Wall Street Journal in 2021 observed, "And, while bitcoin is referred to as a digital currency, it doesn't meet at least one important criterion of a currency: It lacks widespread usage as a medium of exchange in legitimate commercial transactions. Source: Dan Weil, "The Case for and Against Investing in Bitcoin," Wall Street Joumal, January 8, 2021. All of the following may help explain the slow adoption of cryptocurrencies except O A. the technology behind the cryptocurrency system may make it possible for investors to manipulate the prices of cryptocurrencies. O B. due to its decantralized computer system, cryptocurrencies may be more susceptible to computer hacking. OC. the vast majority of consumers may not care that eryptocurrencies provide no record of their transactions. O D. there is concem that the Federal Reserve does not include virtual currencies like in M1 or M2. What advantages might using cryptocurrencies have over buying things with cash, a check, or a credit card? What would need to happen for those advantages to be sufficient to cause people to switch to cryptocurrencies from other means of payment? One advantage of using cryptocurrencies to buy and sell goods and services is that O A. there is no permanent record of the transaction, but they are unlikely to be widely used unless their values in terms of government issued money become more stable. O B. there is a detailed permanent record of the transaction, but they are unlikely to be widely used unless their values in terms of govemment issued money become more stable. OC. they are not susceptible to hacking attempts, but they are unlikely to be widely used uniess they become more valuable. O D. developing countries would have less need for bartering, but they are unlikaly to be widely used unless they become more valuable.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Transcribed Image Text:Economics
An article in the Wall Street Journal in 2021 observed, "And, while bitcoin is referred to as a digital currency, it doesn't meet at least one important criterion of a currency: It lacks widespread usage as a medium of exchange in legitimate
commercial transactions."
Source: Dan Weil, "The Case for and Against Investing in Bitcoln," Wal Street Joumal, January 8, 2021.
All of the following may help explain the slow adoption of cryptocurrencies except
O A. the technology behind the cryptocurrency system may make it possible for investors to manipulate the prices of cryptocurrencies.
O B. due to its decentralized computer system, cryptocurrencies may be more susceptible to computer hacking.
OC. the vast majority of consumers may not care that cryptocurrencies provide no record of their transactions.
O D. there is concem that the Federal Reserve does not include virtual currencies like in M1 or M2.
What advantages might using cryptocurrencies have over buying things with cash, a check, or a credit card? What would need to happen for those advantages to be sufficient to cause people to switch to cryptocurrencies from other means of
рayment?
One advantage of using cryptocurrencies to buy and sell goods and services is that
O A. there is no permanent record of the transaction, but they are unlikely to be widely used unless their values in terms of government issued money become more stable.
O B. there is a detailed permanent record of the transaction, but they are unlikely to be widely used unless their values in terms of government issued money become more stable.
O C. they are not susceptible to hacking attempts, but they are unlikely to be widely used unless they become more valuable.
O D. developing countries would have less need for bartering, but they are unlikely to be widely used unless they become more valuable.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education