Choice architects are likely to make program participation:
A. the status quo in order to entice high enrollment.
B. the default rule if they want low enrollment.
C. lower, even if they frame it positively.
D. the default rule if they want high enrollment.
Answer: D
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Use the following table to answer the question below.Units ConsumedTotal UtilityMarginal Utility00-1W20235X3Y10440ZThe value for Y is
A. 30. B. 25. C. 45. D. 40.
The primary goal of a business firm is to
A) promote fairness. B) make a quality product. C) promote workforce job satisfaction. D) maximize profit. E) increase its production.
The table above shows techniques that can be used to produce 100 shirts. If the price of an hour of labor is $6 and the price of a unit of capital is $30, then the economically efficient technique is
A) W. B) X. C) Y. D) Z.
The production possibilities curve demonstrates the basic economic principle that:
a. market-based economies are more efficient. b. supply will determine demand in the economy. c. the production of more capital goods this year will cause the economy to produce less consumption goods next year. d. to produce more of any one thing, assuming full employment, the economy must produce less of something else. e. to produce more consumption goods this year requires the production of more capital goods this year.