Pick the Best Choice by Estimating

question 100

Multiple Choice

Pick the best choice by estimating. Do not measure. For metric measurements, do not attempt to convert to the U.S. system. The hardest part of the transition to the metric system is the transition to thinking in metrics. The distance around your waist is closest to __________.

• A) 32 in.
• B) 2.4 m
• C) 0.5 ft
• D) 20 cm
• E) 9 in.

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Definitions:

Financial Decisions

Choices made by individuals or businesses regarding the management of money and assets.

Money Illusion

Money illusion occurs when people think of currency in nominal, rather than real, terms, failing to account for inflation's impact on purchasing power.

Real Buying Power

The amount of goods and services that can be purchased with a unit of currency, taking into account inflation to reflect the true value over time.

Nominal Buying Power

Refers to the amount of goods and services that can be purchased with a specific amount of currency without taking inflation into account.