An Electronic Payments System Has Not Completely Replaced the Paper

question 13

Multiple Choice

An electronic payments system has not completely replaced the paper payments system because of all of the following reasons EXCEPT

• A)expensive equipment is necessary to set up the system.
• B)security concerns.
• C)privacy concerns.
• D)transportation costs.

Understand the implications of cyber security breaches on businesses and the ethical responsibilities in protecting consumer data.

Comprehend the legal ramifications of cybercrimes, including hacking, cyberstalking, and the unauthorized distribution of private images.

Identify the consequences and legal actions related to copyright and trademark infringements in the digital domain.

Recognize the roles and requirements of businesses in notifying individuals about personal data breaches as per state laws.

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Definitions:

Quantity Equation

An equation that relates the quantity of money in an economy to the nominal value of economic output, often used in monetary theory to predict inflation.

Money Supply

The total capital resources in monetary terms within an economy at a certain time.

Price Level

An index of the aggregate prices of all goods and services in an economy, often measured by a consumer price index or GDP deflator.

Inflation Tax

An implicit tax where the government benefits from inflation by reducing the real value of public debt, but it also reduces the purchasing power of money held by the public.