Evidence from studies of workers' choices on whether to participate in 401(k) plans suggests that the workers' behavior appears to exhibit
a. indifference.
b. ignorance.
c. inertia.
d. indecision.
c
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Answer the following statements true (T) or false (F)
1. The production function relates outputs to inputs. 2. The marginal product is the increase in output per additional unit of input. 3. The marginal product decreases, reaches a minimum, and then rises as output increases. 4. As long as the marginal product is falling, the average product falls. 5. The average product decreases any time the marginal product is decreased.
The most important role of the World Trade Organization is
(a) to promote market oriented economic policies. (b) to settle trade disputes. (c) to provide development assistance. (d) to help countries choose the appropriate level of a tariff or quota.
Both the Federal Reserve System in the United States and the European Central Bank are comprised of geographically dispersed Banks. How might such decentralization contribute to successful monetary policy?
What will be an ideal response?
One concern over external national debt is that interest and principal payments transfer wealth overseas. The percentage of the national debt held in recent years by foreigners is approximately:
a. 5 percent. b. 10 percent. c. 20 percent. d. 30 percent. e. 50 percent.