Questions: Why is digital money important? Multiple Choice Digital money is cheaper and easier to use. Digital money is essential for Internet purchases. Digital money is decentralized. Digital money is easily created by the Fed.

Why is digital money important? Multiple Choice Digital money is cheaper and easier to use. Digital money is essential for Internet purchases. Digital money is decentralized. Digital money is easily created by the Fed.
Transcript text: Why is digital money important? Multiple Choice Digital money is cheaper and easier to use. Digital money is essential for Internet purchases. Digital money is decentralized. Digital money is easily created by the Fed.
failed

Solution

failed
failed
Answer

The answer is Digital money is essential for Internet purchases.

Explanation
Option 1: Digital money is cheaper and easier to use.

While digital money can be cheaper and easier to use in some contexts, this is not the primary reason for its importance.

Option 2: Digital money is essential for Internet purchases.

This is the most accurate answer. Digital money facilitates online transactions, making it possible to buy and sell goods and services over the Internet efficiently and securely.

Option 3: Digital money is decentralized.

Not all digital money is decentralized. For example, cryptocurrencies like Bitcoin are decentralized, but other forms of digital money, such as digital currencies issued by central banks, are not.

Option 4: Digital money is easily created by the Fed.

This statement is incorrect. The creation of digital money, especially in the form of cryptocurrencies, is not controlled by the Federal Reserve. Even for central bank digital currencies (CBDCs), the process is complex and not "easily" done.

Was this solution helpful?
failed
Unhelpful
failed
Helpful

Questions asked by other users

failedAnswered
In the braces below, list all subsets of the set 6,5,4. Write each subset in your list in roster form. If there is more than one subset in your list, separate them with commas. If you need the empty set in your list, use the symbol ∅.
failedAnswered
g(t)=2t+4 f(t)=4t+4 Find g(10)+f(10)
failedAnswered
You receive an inheritance of 12,500, and you place the full amount into a bank account. The bank pays a simple interest rate of 7.5%. How much interest will you have earned after three years? Round your answer to the nearest cent.
failedAnswered
∫ (cos 3x) / √(1-2 sen 3x) dx
failedAnswered
Research into nuclear fusion will likely require a large investment of time and money before it might be used as an energy source. Which statement best describes the benefits that would make the investment worthwhile? Fusion requires a large amount of energy and occurs in stars. Fusion produces large amounts of energy, and the fuel is found on Earth. Fusion produces no radioactive waste, and the fuel is plentiful. Fusion requires little energy to begin and would continue through a chain reaction.