According to one survey 76 percent of Americans said they were not saving enough for retirement. This example of inconsistency over time
a. is rational behavior.
b. likely occurs because saving requires a sacrifice in the present for a reward in the distant future.
c. likely occurs because Americans don't care about retirement.
d. definitely would not happen if Americans earned a greater return on their investments.
b
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Unlike monetary policy, fiscal policy does not experience policy lags
Indicate whether the statement is true or false
The idea of interchangeable parts, which was an important aspect of the American System of Manufacturing, is attributed by Hughes and Cain (2011) to
(a) Henry Ford, who used it in the production of automobiles. (b) Adam Smith, who suggested it in his book The Wealth of Nations. (c) Thomas Jefferson, who used it in his "nailery" on his plantation. (d) Eli Whitney, who used it in the production of guns.
In the case of a good that has no exclusion and no rivalry, private markets fail because
A) of free-ridership. B) this is a natural monopoly. C) profit is driven down to zero. D) the quantity produced will exceed the social optimum.
If both supply and demand increase, then the change in equilibrium quantity is indeterminate
a. True b. False