The idea that small changes can render behavior or another complex system completely unpredictable is referred to as the:
A. path-dependent model.
B. heuristic model.
C. regression model.
D. butterfly effect model.
Answer: D
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Indicate whether the statement is true or false
The present discounted value of a future payment can be calculated using which of the following formulas?
A. (Current payment) ÷ [(1 + Interest rate) N]. B. (Future payment) ÷ [(1 + Interest rate) N]. C. [(1 + Interest rate) N] ÷ (Future payment). D. [(1 + Interest rate) N] ÷ (Current payment).
If you are using a credit card prudently, you should
A) pay only the interest on any outstanding balance. B) make only the minimum payment each month. C) gradually expand the amount borrowed to the card's credit limit. D) pay the balance in full each month.
In its role as the bankers' bank, a central bank performs each of the following, except:
A. providing deposit insurance. B. managing the payments system. C. overseeing commercial banks and the financial system. D. providing loans during times of financial distress.