Entropy: the Second Law of Thermodynamics Leads Us to Conclude

question 1

Multiple Choice

Entropy: The second law of thermodynamics leads us to conclude that

• A) the total energy of the universe is constant.
• B) disorder in the universe is increasing with the passage of time.
• C) it is theoretically impossible to convert work into heat with 100% efficiency.
• D) the total energy in the universe is increasing with time.
• E) the total energy in the universe is decreasing with time.

Differentiate between various definitions and components of the money supply (M1, M2).

Understand how banks create money through the process of making loans.

Grasp the origins of banking and the evolution of money creation methods.

Describe the characteristics of barter transactions and compare them with transactions involving money.