The program Save More Tomorrow (SMarT) is:
A. an experimental "forced savings" program.
B. a voluntary savings program that commits a fraction of future raises to be put directly into savings.
C. a voluntary savings program that involves people learning how to find high-interest accounts so their savings is worth more tomorrow.
D. the "forced savings" program in Italy.
Answer: B
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Based on the above table, if the current price level is 100 and the unemployment rate is 4 percent, then the
A) expected inflation rate is 8 percent. B) inflation rate is 2.8 percent. C) expected inflation rate is 2.8 percent. D) inflation rate is 8 percent. E) inflation rate is 108 percent.
Because of the book, The Other America, Michael Harrington was important in beginning the
a. Peace Corps. b. "War on Poverty." c. regulation of industry. d. Environmental Protection Agency.
Adam Smith used the metaphor of the "invisible hand" to explain how:
A. markets mismatch buyers and sellers. B. business owners are benevolent. C. people acting in their own self-interest promote the interest of society as a whole. D. the production possibilities frontier illustrates efficient outcomes.
The concept of trade-offs would become irrelevant if
A. poverty were eliminated. B. scarcity were eliminated. C. capital were eliminated. D. we were dealing with a very simple, one-person economy.