Harry's employer offers a "Holiday Account," which means they will take $50 a month out of Harry's paycheck and deposit it into this account throughout the year. In December, they give Harry the money in the account to spend during the holidays. Harry regularly carries about $200 of credit card debt each month. Harry's decision to set aside some of his money in this account is an example of:
A. ignoring the fungibility of money.
B. recognizing that money is fungible.
C. needing to categorize expenditures to make rational decisions about money.
D. being rational.
A. ignoring the fungibility of money.
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Answer the following statement true (T) or false (F)
One means of enforcing a quota is to require importers to ________.
A. obtain a license B. pay a sales tax C. obtain a sales permit D. pay an import tax
All other things equal, an increase in government spending that is NOT funded by taxes will
A) have an undetermined effect on the current account. B) have no effect on the current account. C) increase the current account deficit. D) decrease the current account deficit.
For production to be at the ________ level of output, marginal benefit must equal social cost.
A. loss-minimizing B. profit-maximizing C. efficient D. shut-down