1. Does bitcoin (and potentially other cryptocurrencies) satisfy the formal definition of money?Your answer2. Does bitcoin perform the 3 functions of money? Be sure to address each function.Your answer3. Could it replace dollars and coins as US currency (or legal tender)?Your answer4. If there are five goods in a barter economy, one needs to know ten prices in order to exchange one good for another. If, however, there are ten goods in a barter economy, then one needs to know ________ prices in order to exchange one good for another.202530455. If an individual uses money from a demand deposit account to purchase a U.S. savings bondM1 decreases and M2 stays the same.M1 stays the same and M2 increases.M1 stays the same and M2 stays the same.M1 decreases and M2 decreases.6. The concept of ________ is based on the common-sense notion that a dollar paid to you in the future is less valuable to you than a dollar today.present valuefuture valueinterestdeflation7. The present value of an expected future payment ________ as the interest rate increasesfallsrisesis constantis unaffected8. If you deposit $10,000 in a bank account that pays 10% annually, how much will be in your account after 4 years?$11,699$15,357$14,641$20,0009. What is the present value of a security that will pay $5,000 in 20 years if securities of equal risk pay 7% annually?Option 1What is the yield to maturity on a simple loan for $1M that requires a repayment of $2M in five years time?14.9%12.2%10.4%16.8%10. Consider a coupon bond that has a $1,000 par value, has 2 years to maturity and a coupon rate of 10%. Based on the riskiness of the asset, you require a 9% return. How much should you pay for this bond?$900$983$1,000$1,018

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