A Check Returned by the Bank Marked "NSF" Means

question 143

Multiple Choice

A check returned by the bank marked "NSF" means

• A) no service fee.
• B) no signature found.
• C) not satisfactorily filled-out.
• D) not sufficient funds.

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Definitions:

Income Effect

The change in an individual's consumption pattern due to a change in their real income, usually following a change in prices.

Substitution Effect

The change in consumption patterns due to a shift in relative prices, leading consumers to replace more expensive items with cheaper alternatives.

Leisure

Free time spent away from business, work, and domestic chores, often used for relaxation, recreation, or hobbies.

Substitution Effect

The effect of a change in the price of a good or service on the demand for that good or service, due to consumers switching to or from substitutes.