In the arena of decision making, status-quo bias means that the "‘default'" option:
A. has a lot of power.
B. is most likely to be chosen.
C. is the one that will automatically take place if the chooser fails to make an active decision.
D. All of these statements are true.
D. All of these statements are true.
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Which of the following CORRECTLY describes the above figure?
A) There is no relationship between x and y. B) There is a positive relationship between x and y. C) There is a negative relationship between x and y. D) None of the above answers are correct.
Refer to Table 2-17. What is James's opportunity cost of making a wagon?
A) 2 tricycles B) 1/2 of a tricycle C) 3/4 of a wagon D) 1/2 of a wagon
Exhibit 19-1 Balance sheet of First Iliad State Bank Assets Liabilities Required reserves$ 1,000,000 Demand deposits$10,000,000 Excess reserves0 Loans$ In Exhibit 19-1, if the required reserve ratio is raised to 15 percent, First Iliad State will have to convert loans worth:
A. $9,000,000 to required reserves. B. $1,500,000 to required reserves. C. $500,000 to required reserves. D. $1,000,000 to required reserves.
The use of money contributes to economic efficiency because:
A. governmental direction of the production and distribution of output can be avoided by using money. B. roundabout production could not occur without the availability of money. C. it is necessary for the creation of capital goods. D. it promotes specialization by overcoming the problems with barter.