If a person is risk averse, then as wealth increases, total utility of wealth
a. increases at an increasing rate.
b. increases at a decreasing rate.
c. decreases at an increasing rate.
d. decreases at a decreasing rate.
b
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The reason that some corporations grow so big is:
a. double taxation b. that they are a separate entity from their owners c. that they have limited liability d. none of these
The GDP figures fail to count labor services and other household production. Once this omission is taken into account,
What will be an ideal response?
Wealth is the same as:
A. savings. B. capital gains. C. assets. D. net worth.
Which of the following would be expected if the tariff on foreign-produced shoes were decreased?
A. The domestic price of shoes would fall. B. The supply of foreign shoes to the domestic market would decline, causing shoe prices to rise. C. The number of unemployed workers in the domestic shoe industry would decline. D. The demand for foreign-produced shoes would decrease, causing the price of shoes to increase in other nations.