Suppose That Canadian Banks Did Not Offer Interest on Chequing

question 169

Multiple Choice

Suppose that Canadian banks did not offer interest on chequing accounts until the beginning of the 1980s.From this we can surmise that before the early 1980s:

• A) the opportunity costs of keeping funds in chequing accounts was zero.
• B) the opportunity costs of keeping funds in chequing accounts was lower.
• C) the opportunity costs of keeping funds in chequing accounts was higher.
• D) people kept money under their mattress.

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Definitions:

Lens

A transparent structure in the eye that focuses light on the retina to create clear images.

Retina

A thin layer of tissue at the back of the eye that contains cells sensitive to light, which trigger nerve impulses that pass via the optic nerve to the brain.

Upside-Down Image

Refers to the way images are projected onto the retina in the eye, which the brain then interprets and flips to the correct orientation.

Retina

The light-sensitive layer of tissue at the back of the inner eye that converts light images into nerve signals sent to the brain.