Examlex
When borrowers don't respond to short-term interest rates of zero, the economy is in:
Minimum Payment
The smallest amount of money that one must pay on a debt for a particular period, often used in the context of credit card debts.
Financial Distress
A situation where an individual or company cannot meet or has difficulty paying off its financial obligations to creditors.
Anchored
A cognitive bias where an individual relies too heavily on an initial piece of information (the "anchor") when making subsequent judgments or decisions.
Prospect Theory
A behavioral economic theory that describes how people choose among probabilistic alternatives and assess the risk of loss differently from the potential for gains.
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