With ATMs, It Is Possible to Retrieve Cash from the Bank

question 13

Multiple Choice

With ATMs, it is possible to retrieve cash from the bank at any time. One hundred years ago, one could only get cash from the bank during business hours, say, 9 am to 3 pm. The difference has arisen because:

• A) flexibility was not valued 100 years ago.
• B) it was impossible to provide 24-hour service 100 years ago.
• C) the cost of providing 24-hour service is much lower today.
• D) government forced banks to become more convenient.

Recognize the difference between various patterns in data, including circuits, and their significance in forecasting.

Understand the difference between qualitative and quantitative forecasting methods.

Recognize the importance of technological forecasts in predicting elements of the business cycle.

Identify how demand cycles are influenced by product life cycles.

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Definitions:

Left

Politically, refers to ideologies and movements that typically advocate for social equality, government intervention in the economy to redistribute wealth, and the protection of social welfare programs.

Inflation Expectations

Inflation Expectations are the rate at which people expect prices to rise in the future, influencing their economic decisions.

Long-Run Phillips

The concept in economics that suggests there is no long-term trade-off between inflation and unemployment, indicating that in the long run, the Phillips curve is vertical.

Adverse Supply Shock

An unexpected event that suddenly decreases the supply of a product or commodity, leading to higher prices and lower quantity in the market.