INSTRUCTION: You are required to post an original comment and also respond to at leas two other comments to agree/clarify/disagree RYPTOCURRENCY MONEY, WILL IT OME MONEY, & WHAT MAY BE THE ECT OF CENTRAL BANK DIGITAL RRENCY ON PRIVATE CRYPTOS? In your post, give us one reason, based on definition of money, for or against adopting cryptocurrency as money, exactly lik the dollar. Also, given that we do not use cryptocurrency to pay for grocery in almost al countries and territories, give two key reason: why it has not been widely accepted as mone What is the effect of central bank cryptocurre (like digital dollar or Yuan) on your previous

INSTRUCTION: You are required to post an original comment and also respond to at leas two other comments to agree/clarify/disagree RYPTOCURRENCY MONEY, WILL IT OME MONEY, & WHAT MAY BE THE ECT OF CENTRAL BANK DIGITAL RRENCY ON PRIVATE CRYPTOS? In your post, give us one reason, based on definition of money, for or against adopting cryptocurrency as money, exactly lik the dollar. Also, given that we do not use cryptocurrency to pay for grocery in almost al countries and territories, give two key reason: why it has not been widely accepted as mone What is the effect of central bank cryptocurre (like digital dollar or Yuan) on your previous

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

FORUM
DESCRIPTION
IS CRYPTOCURRENCY MONEY, WILL IT
INSTRUCTION: You are required to post an
original comment and also respond to at least
two other comments to agree/clarify/disagree
BECOME MONEY, & WHAT MAY BE THE
EFFECT OF CENTRAL BANK DIGITAL
CURRENCY ON PRIVATE CRYPTOS?
In your post, give us one reason, based on
definition of money, for or against
adopting cryptocurrency as money, exactly like
the dollar. Also, given that we do not use
cryptocurrency to pay for grocery in almost all
countries and territories, give two key reasons
why it has not been widely accepted as money.
What is the effect of central bank cryptocurrency
(like digital dollar or Yuan) on your previous
answer?

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Please xplain why the answer is this: a) 0.1 * 1000 = 100 b) 1000-100 = 900 c) Let CU be currency in circulation Old MS = CU + R*[1/reserve deposit ratio] = CU + existing created deposits = CU + 30000 New MS after deposit = [CU – 1000] + [existing created deposits] + [newly created deposits] = [CU -1000] + [30000] + [1000*1/0.1] Difference = -1000 + [1000/0.1] = 9000 a) 0.1 * 1000 = 100 b) 1000-100 = 900 c) Let CU be currency in circulation Old MS = CU + R*[1/reserve deposit ratio] = CU + existing created deposits = CU + 30000 New MS after deposit = [CU – 1000] + [existing created deposits] + [newly created deposits] = [CU -1000] + [30000] + [1000*1/0.1] Difference = -1000 + [1000/0.1] = 9000
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