Choice architects are likely to make program participation:
A. lower, even if they frame it positively.
B. the default rule if they want low enrollment.
C. the default rule if they want high enrollment.
D. the status quo in order to entice high enrollment.
C. the default rule if they want high enrollment.
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Refer to Figure 9-4. Suppose the government allows imports of leather footwear into the United States. What will be the quantity demanded?
A) Q0 B) Q1 C) Q2 D) Q2 - Q0
Which of the following would increase public saving?
A) an increase in transfers B) an increase in government purchases C) an increase in taxes D) All of the above would increase public saving.
If planned aggregate expenditure is above potential GDP and planned aggregate expenditure equals GDP, then
A) the economy is in an expansion. B) actual inventory investment will be less than planned inventory investment. C) actual inventory investment will be greater than planned inventory investment. D) the economy is at full employment.
During the colonial period, individual producers
(a) were never required to produce specific goods or services. (b) were, at times, required by colonial officials to produce certain staples if they wanted to produce cash crops. For example, the early governors of Virginia directed tobacco producers to also plant wheat. (c) produced only what they were directed to produce by colonial officials as part of an overall plan of colonial development. (d) received orders directly from England to produce what was viewed as most valuable to England.