The higher the opportunity cost of doing something, the more likely it will be done
Indicate whether the statement is true or false
False
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First, provide a brief explanation of what the unemployment rate measures. Second, explain how changes in each of the components of the unemployment rate can cause changes in the unemployment rate
What will be an ideal response?
Credit card companies put a low "minimum required payment" on people's bills in the hope that people will send in low payments thereby allowing the card companies to earn more interest. The companies are trying to exploit the:
A. Framing effect B. Anchoring effect C. Confirmation bias D. Endowment effect
The desired reserve ratio is 10 percent. Joe deposits $1,000 in Bank A. Bank A keeps its minimum desired reserves and lends the excess to Fred
Fred spends his loan at J.C. Penney. J.C. Penney deposits the check it receives from Fred in Bank B. Bank B keeps its minimum desired reserves and lends the excess to Mary. How much can Bank B lend to Mary? A) $90 B) $900 C) $810 D) $1,000 E) $100
Which of the following has not been promoted by HPAE?
A) Large job creation in the government sector B) Land reform C) Free basic health care D) Significant investments in rural infrastructure