Podcast
Questions and Answers
What is the primary reason money is said to have arisen spontaneously?
What is the primary reason money is said to have arisen spontaneously?
- To raise state revenues
- To serve as a tangible commodity
- To eliminate inefficiencies of barter (correct)
- To create a standardized measure of value
According to metallist theory, what quality must money possess?
According to metallist theory, what quality must money possess?
- Intrinsic value and utility (correct)
- High liquidity in all markets
- Only government approval
- Simplicity in design
What is a characteristic of metallic currencies in metallist theory?
What is a characteristic of metallic currencies in metallist theory?
- They are exclusively paper-based
- They must be electronic
- They require frequent official appraisal
- They have intrinsic value as commodities (correct)
What is a challenge when using commodity money?
What is a challenge when using commodity money?
What role does the state play according to chartalism theory?
What role does the state play according to chartalism theory?
What does metallist theory primarily focus on?
What does metallist theory primarily focus on?
Which statement best describes the minting process in relation to commodity money?
Which statement best describes the minting process in relation to commodity money?
Why might the intrinsic value of money vary?
Why might the intrinsic value of money vary?
What characterizes cryptocurrencies?
What characterizes cryptocurrencies?
What is a distinguishing feature of NFTs?
What is a distinguishing feature of NFTs?
According to Minsky, what is a key challenge in creating money?
According to Minsky, what is a key challenge in creating money?
How does the Metallist Theory define the origin of money?
How does the Metallist Theory define the origin of money?
What does the Chartalist Theory propose about money?
What does the Chartalist Theory propose about money?
What is a characteristic shared by cryptocurrencies in the Metallist vs. Chartalist debate?
What is a characteristic shared by cryptocurrencies in the Metallist vs. Chartalist debate?
What issue is addressed by the concept of ‘double coincidence of wants’ in Metallist theory?
What issue is addressed by the concept of ‘double coincidence of wants’ in Metallist theory?
In the context of money theories, what role does acceptance play according to Minsky?
In the context of money theories, what role does acceptance play according to Minsky?
What is the main purpose of an Initial Coin Offering (ICO)?
What is the main purpose of an Initial Coin Offering (ICO)?
Which statement accurately describes utility tokens in the context of ICOs?
Which statement accurately describes utility tokens in the context of ICOs?
Based on EY's analysis of 141 ICOs in 2017, what percentage was below listing price as of September 2018?
Based on EY's analysis of 141 ICOs in 2017, what percentage was below listing price as of September 2018?
What is a characteristic of Bitcoin?
What is a characteristic of Bitcoin?
What do stablecoins seek to achieve?
What do stablecoins seek to achieve?
Which of the following examples represents a Central Bank Digital Currency (CBDC)?
Which of the following examples represents a Central Bank Digital Currency (CBDC)?
What can be expected as a consequence of Bitcoin's fixed supply if market growth occurs?
What can be expected as a consequence of Bitcoin's fixed supply if market growth occurs?
In terms of risk, what is a common issue associated with ICOs?
In terms of risk, what is a common issue associated with ICOs?
What is the primary backing mechanism for fiat-backed stablecoins?
What is the primary backing mechanism for fiat-backed stablecoins?
What happens if the value of the crypto collateral for a crypto-backed stablecoin drops?
What happens if the value of the crypto collateral for a crypto-backed stablecoin drops?
Which of the following is a key risk associated with algorithmic stablecoins?
Which of the following is a key risk associated with algorithmic stablecoins?
Which stablecoin is known for being backed by Ethereum and using smart contracts for stability?
Which stablecoin is known for being backed by Ethereum and using smart contracts for stability?
How do algorithmic stablecoins respond when their price rises above the pegged value?
How do algorithmic stablecoins respond when their price rises above the pegged value?
What is a significant concern regarding the transparency of Tether (USDT)?
What is a significant concern regarding the transparency of Tether (USDT)?
What characterizes the backing of algorithmic stablecoins compared to fiat and crypto-backed stablecoins?
What characterizes the backing of algorithmic stablecoins compared to fiat and crypto-backed stablecoins?
Why are crypto-backed stablecoins often over-collateralized?
Why are crypto-backed stablecoins often over-collateralized?
What fundamental change did Tether make in its backing on 14 March 2019?
What fundamental change did Tether make in its backing on 14 March 2019?
What differentiates Central Bank Digital Currencies (CBDCs) from traditional cryptocurrencies?
What differentiates Central Bank Digital Currencies (CBDCs) from traditional cryptocurrencies?
What is a known advantage of wholesale CBDCs?
What is a known advantage of wholesale CBDCs?
Which of the following statements about CBDCs is false?
Which of the following statements about CBDCs is false?
What is the primary function of retail CBDCs?
What is the primary function of retail CBDCs?
What was the alleged misuse involving Tether and the Bitfinex exchange?
What was the alleged misuse involving Tether and the Bitfinex exchange?
Which of the following describes the primary benefit of the Bank of Canada’s Jasper Project?
Which of the following describes the primary benefit of the Bank of Canada’s Jasper Project?
What is a key characteristic of CBDCs compared to traditional payment platforms like PayPal and Alipay?
What is a key characteristic of CBDCs compared to traditional payment platforms like PayPal and Alipay?
