The Save More Tomorrow (SMarT)program Offers Employees the Option to Commit

question 22

Multiple Choice

The Save More Tomorrow (SMarT) program offers employees the option to commit a fraction of future pay raises to a tax-free retirement savings account. Which of the following was not a finding of this program?

• A)People want to save more than they typically do.
• B)Participants quadrupled their savings in just a couple of years.
• C)If the default choice is to save a portion of income, people will save more.
• D)People were already saving at an optimal amount, so the program had no effect.

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Definitions:

Less Than

A mathematical term indicating that one quantity or number is smaller than another.

Z-scores

An analytical metric indicating the proximity of a particular value to the average value in a dataset, quantified by the number of standard deviations separating it from the mean.

Standard Normal Distribution

A standard normal distribution characterized by a mean equal to zero and a standard deviation equal to one.

Greater Than

A mathematical symbol (>) indicating that one value is larger or more than another value.