After Moving to Orlando, Florida, Kaori Opened Both a Savings

question 2

Multiple Choice

After moving to Orlando, Florida, Kaori opened both a savings and a checking account at Barnett Bank. Although Barnett had a higher minimum balance requirement for free checking than the other two banks she considered, Kaori chose Barnett because it was located closer to her home than the other banks. Kaori would rather expend other costs than _____ costs.

• A) Convenience
• B) Monetary
• C) Psychological
• D) Time
• E) Search

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Definitions:

Aggregate Demand

Aggregate demand represents the total demand for goods and services within an economy at a given overall price level and in a given time period.

Aggregate Demand Curve

A curve that shows the relationship between the overall price level in the economy and the total demand for goods and services.

Price Level

The aggregate average price of goods and services in the economy at present.

Rate of Interest

The interest segment of a loan charged to the borrower, frequently expressed in terms of an annual percentage of the current loan balance.