Status-quo bias is:
A. a type of mental barrier to saving.
B. when people actively make decisions to change something, even if it is fairly difficult to do so.
C. not overcome in the SMarT program because saving is the default option.
D. when people have a negative view on the status quo.
A. a type of mental barrier to saving.
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Consider the market for smart phones. Which of the following shifts the demand curve rightward?
A) a decrease in the price of smart phones B) an increase in the price of smart phones C) an increase in the price of land-line phone service, a substitute for smart phones D) an increase in the supply of smart phones E) a decrease in the number of smart phone buyers
The economy's self-correcting mechanism appears to be more efficient at curing
a. recessionary gaps by reducing price levels. b. inflationary gaps by reducing price levels. c. unemployment by reducing wage levels. d. inflationary gaps through inflation.
According to the long-run Phillips curve, if the Fed increases the growth rate of the money supply, what happens to the inflation rate and the unemployment rate in the long run?
________ was the major system of exchange rate determination before 1914.
A. The gold standard B. The managed-floating system C. The freely-floating system D. The Bretton Woods system