October 14, 2003
Exam Strategies
The answer is most often a diagram in economics. Words is seldom the best strategy if you are clueless.
Avoid the postage stamp diagram, and do not make a mess. Label all axes and curves, and indicate which way things shift.
One important exam strategy is "Do not miss the easy ones."
This mortgage refinancing question (8% to 6%) is an easy one.
