The CARD Act, which tells credit card holders how long it will take to pay off their debt if they only make minimum payments, and how much they need to pay in order to pay off the debt in three years, is an example of:
A. disclosing information in more usable ways.
B. choice architecture that nudges people toward better decisions.
C. how the presentation of information can affect people's choices.
D. All of these statements are true.
D. All of these statements are true.
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Figure 1-1
The slope of the line in Figure 1-1 is
A. 0.5. B. 2.0. C. ?0.5. D. ?2.0.
A bundle of goods that costs $1 in the U.S. is worth 5 units in Country A's currency. If Country A's GDP in its own currency is 5,000,000 units, Country A's GDP in purchasing power parity-adjusted dollars is ________
A) $1,000,000 B) $50,000,000 C) $2,500,000 D) $3,000,000
Which of the following might the Fed rely on as an intermediate target?
A) The monetary base B) The discount rate C) M2 D) The exchange rate of the dollar
A test was scheduled for Monday morning, but you went to a party on Saturday night. If you hadn't attended the party, you could have studied for the test or gone to a movie. Which of the following is true?
a. The opportunity cost of going to the movie is studying for the test. b. The opportunity cost of going to the party is the movie. c. The opportunity cost of going to the party is both the movie and the study time. d. Because you could go to the party only that night but could go to a movie any time, the opportunity cost of the party is the study time. e. From the above information, it's not possible to determine the opportunity cost of attending the party.