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Review Questions Chapter 16
Review Questions Chapter 16

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... 2. a recession ends when real GDP hits a Trough/bottom and starts going up B. Expansion- when economy/ GDP increases after it hits a trough 1. an expansion ends when real GDP reaches a Peak ...
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Download pdf | 1002 KB |

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Virtual economy

Money changers redirects here. For other uses, see Financial trading.A virtual economy (or sometimes synthetic economy) is an emergent economy existing in a virtual persistent world, usually exchanging virtual goods in the context of an Internet game. People enter these virtual economies for recreation and entertainment rather than necessity, which means that virtual economies lack the aspects of a real economy that are not considered to be ""fun"" (for instance, avatars in a virtual economy often do not need to buy food in order to survive, and usually do not have any biological needs at all). However, some people do interact with virtual economies for ""real"" economic benefit.Despite primarily dealing with in-game currencies, this term also encompasses the selling of virtual currency for real money.
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