John derives more utility from having $1,000 than from having $100. From this, we can conclude that John
A) is risk averse.
B) is risk loving.
C) is risk neutral.
D) has a positive marginal utility of wealth.
D
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Refer to Figure 24-4. Given the economy is at point A in year 1, what will happen to the unemployment rate in year 2?
A) It will rise. B) It will remain constant. C) It will fall. D) not enough information to answer the question
In the long run, the economic profits of a monopolistically competitive firm
A) will tend to be larger than in the short run. B) equal zero. C) will be the average short-run profits earned in the last five years. D) will be the same as in the short run.
Classical economists believe that an increase in the money supply will lead to:
a. only c and d. b. all of the following. c. an increase in the price level. d. an increase in nominal GDP. e. an increase in real GDP.
If Farmer Sam MacDonald can produce 200 pounds of cabbages and 0 pounds of potatoes or 0 pounds of cabbages and 100 pounds of potatoes and faces a linear possibilities curve for his farm, the opportunity cost of producing an additional pound of cabbage is ____
A) 1/2 B) 2 C) 100 D) 200