Firms that automatically enroll their employees in retirement plans, giving them the option to opt-out instead of to opt-in, is an example of a form of behavioral economics known as
A) the endowment effect.
B) network externality.
C) nudges.
D) anchoring.
Answer: C
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As a result of a major overhaul of the U.S. welfare system in 1996:
A. Benefits were expanded for immigrants B. Immigrants are denied benefits for their first five years in the U.S. C. Immigrants are denied benefits for their first three years in the U.S. D. More immigrants qualified for welfare benefits
According to the Monetarists a decrease in investment spending initially __________ unemployment so that the price level __________. The resulting __________ in the real money supply __________ spending
A) increases; rises; increase; decreases B) increases; falls; increase; increases C) increases; falls; increase; decreases D) decreases; rises; increase; increases
What is the "medium of exchange" function of money?
a. A common measurement of the relative value of different goods and services. b. The ability of money to hold value over time c. The quality of money not to be hoarded because of its commodity value. d. The function of money to be widely accepted I exchange for goods and services.
Job losers typically account for ____ of the unemployed
a. 80 to 90 percent b. 50 to 60 percent c. 30 to 40 percent d. 10 to 20 percent