US Banks Did Not Offer Interest on Checking Accounts Until

question 310

Multiple Choice

U.S. banks did not offer interest on checking accounts until the beginning of the 1980s. As a result, before the early 1980s:

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

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Definitions:

Primary Research Methods

These are direct methods of gathering data from sources or subjects, including surveys, interviews, observations, and experiments, used to collect original information.

Surveys

Research methods that involve collecting data from a sample of individuals to gather information about their opinions, behaviors, or characteristics.

Sampling Bias

A statistical bias that occurs when the sample is not representative of the population from which it was drawn.

Representative Sample

A subset of a population that accurately reflects the members of the entire population.