Virtual currency unit 2 (VCU2) is different from VCU1 because:
a. VCU1 cannot be spent in the real world; VCU2 can be spent in the real world.
b. VCU1 can only be purchased with real-word currencies. VCU2 can be purchased with real-world currencies and also earned in the virtual world.
c. VCU1 can only be earned in the virtual world; VCU2 can be earned in the virtual world or purchased with legal tender.
d. In terms of spending potential, there is no difference; both VCU1 and VCU2 can be spent in the real world.
Question 2 - China combined economic growth with:
a. low savings rates
b. large increases in income inequality
c. slow growth of agriculture
d. more rapid growth of the state sector
e. none of the above
Question 3 - Assume that the expectation of declining housing prices cause households to reduce their demand for new houses and the financing that accompanies it. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the GDP Price Index and net nonreserve-related international borrowing/lending in the context of the Three-Sector-Model?
a. The GDP Price Index and net nonreserve-related international borrowing/lending remain the same.
b. The GDP Price Index rises, and net nonreserve-related international borrowing/lending becomes more positive (or less negative).
c. There is not enough information to determine what happens to these two macroeconomic variables.
d. The GDP Price Index falls, and net nonreserve-related international borrowing/lending becomes more negative (or less positive).
e. The GDP Price Index falls, and net nonreserve-related international borrowing/lending becomes more positive (or less negative).
Question 4 - Virtual currency unit 2 (VCU2) is different from VCU1 because:
a. VCU1 can only be purchased with real-word currencies. VCU2 can be purchased with real-world currencies and also earned in the virtual world.
b. VCU1 cannot be converted into legal tender; VCU2 can be converted into legal tender.
c. VCU1 can only be earned in the virtual world; VCU2 can be earned in the virtual world or purchased with legal tender.
d. In terms of spending potential, there is no difference; both VCU1 and VCU2 can be spent in the real world.
Question 5 - China's one child policy
a. Caused the share of young people to rise
b. Prematurely aged the Chinese labor force
c. Lowered the saving rate
d. all of the above
e. none of the above
Question 6 - Assume that the expectation of declining housing prices cause households to reduce their demand for new houses and the financing that accompanies it. If the nation has low mobility international capital markets and a flexible exchange rate system, what happens to the quantity of real loanable funds per time period and the nominal value of the domestic currency in the context of the Three-Sector-Model?
a. Real GDP falls, and nominal value of the domestic currency rises.
b. Real GDP falls, and nominal value of the domestic currency remains the same.
c. Real GDP rises, and nominal value of the domestic currency rises.
d. Real GDP falls, and nominal value of the domestic currency falls.
e. There is not enough information to determine what happens to these two macroeconomic variables.
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