24. According to Evans and Schmalensee, which of the following were factors that tended to prevent Apple Pay from gaining traction and achieving critical mass, (pp. 157-162) 1. Fact that Apple Pay could only be used on iPhones and only on the latest models. 2. Satisfactory experience of most consumers when paying with plastic cards. 3. Delay by retailers in installing chip-and-PIN terminals and turning on NFC after the October 2015 liability shift A. 1 and 2 B. 1 and 3 C. 2 and 3 D. 1, 2, and 3 25. Evans and Schmalensee conclude that in its first year, Apple Pay the company's expectations for the new payment service. They argue that the experience of Starbucks mobile payment app was different because the app used a QR code that (pp. 162-163) A. fully met; did not work on many smartphones and could not be read at all Starbucks shops B. fully met; was less secure C. failed to meet; worked on all major smartphones and could be read at all Starbucks shops D. failed to meet; was more secure 26. According to Merrill Lynch, the supply of Bitcoins increases at a and has upper limit. (p. 2) A. predetermined rate; no B. predetermined rate; a specified C. rate that varies over time according to the demand for Bitcoins; a specified D. rate that varies over time according to the demand for Bitcoins; no 27. In Bitcoin terminology, the process by which Bitcoin supply increases is called .. (p. 2) A. mining B. clearing C. seigniorage D. double spending 28. In Bitcoin terminology, the blockchain is a public record tracking every Bitcoin from its first owner to its present owner. It is used to guarantee that_(p. 2) A. someone wanting to make a purchase with Bitcoins actually owns the Bitcoins B. the supply of Bitcoins does not become too large C. the supply of Bitcoins is not comered by a few individuals D. Bitcoin are used only for legitimate purposes