1.

Which of the following best defines PPP?

a.

Value of GDP as adjusted by purchasing power.

b.

Measure that adjusts the exchange rate between countries to ensure that a good is purchased for the same price in the same currency.

c.

Measure of a country's average achievements across basic areas of development.

d.

Value of GDP divided by population.

2.

Digital currencies differ from standard banknote currencies in that they allow for ____________ and ________________.

a.

central bank currency development; electric digitization

b.

cryptocurrency development; movement without a central administrator

c.

instantaneous transactions; borderless transfer-of-ownership

d.

peer-to-peer network utilization; centralized payment systems

3.

In an effort to combat the Great Depression, the United States _______ its currency by changing the exchange value in gold from $35 per ounce to $20.67 per ounce.

a.

sterilized

b.

demonetized

c.

devalued

d.

remonetized

Give explanation