Kourtney invested $100 in a project that has a 20% chance of being worth $200 and a 75% chance of being worth $80. One can conclude that Michelle is
A) not risk averse.
B) risk neutral.
C) risk loving.
D) extremely poor.
A
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In April 2000, the United States had a labor force of 141,230,000, employment of 135,706,000, and there were 67,986,000 people not in the labor force (all numbers rounded to the nearest 1000)
(a) Calculate the unemployment rate. (b) Calculate the participation rate. (c) Calculate the employment ratio.
The law of comparative advantage implies that a nation, individual, or region should trade for those economic goods for which it
What will be an ideal response?
A manager of a firm with market power faces the marginal revenue product and average revenue product curves shown below. The firm incurs weekly fixed costs of $1,800. The firm employs a single variable input, labor, which costs $600 per worker each week.
Given the above, in order to maximize profit, the manager should hire ________ workers per week.
A. 10 B. 12 C. 9 D. 18
The concepts of specialization and gains from trade can be applied to:
A. consumer decisions. B. international trade. C. household decisions. D. why globalization has expanded recently.