A _______ Is a Preselected Option That a Consumer Makes

question 26

Multiple Choice

A _______ is a preselected option that a consumer makes without active thought or consideration.

• A) norm
• B) custom
• C) nudge
• D) default

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Definitions:

Interest Rate

The percentage of a sum of money charged for its use, typically expressed on an annual basis.

Equilibrium

A state in which market supply and demand balance each other, and as a result, prices become stable.

U.S. Interest Rates

U.S. interest rates are the rates at which interest is paid by borrowers for the use of money that they borrow from a lender, specifically within the United States.

Savings Account

A deposit account held at a bank or financial institution that earns interest and is designed for the purpose of saving rather than daily transactions.