Why is starting to save money early in life beneficial?
a. Compound interest has a longer time to accumulate.
b. Banks offer higher interest rates to long-term customers.
c. Cash is the safest and most liquid financial resource.
d. Interest earned in a savings account is tax-free.
a. Compound interest has a longer time to accumulate.
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Assuming the inverse demand function for good Z can be written as P = 90 - 3Q, when P = 20, the point price elasticity of demand is equal to (approximately):
A) -0.22. B) -0.29. C) -0.67. D) -4.5.
Pair-wise majority voting fails to meet which of the following criteria?
A. Transitivity B. Independence of irrelevant alternatives and transitivity C. No dictator and transitivity D. No dictator and independence of irrelevant alternatives
How do macroeconomists differ from microeconomists?
a. the basic tools of analysis b. the underlying principles c. the use of abstractions and models d. the problems studied e. All of the above are correct.
Suppose Anna just received a parking ticket. According to the availability heuristic, this will tend to make Anna:
A. dislike parking tickets. B. think people frequently receive parking tickets. C. less likely to pay future parking tickets. D. think people should not receive parking tickets.