When you arrive at Olive Garden with your date, you have to wait 25 minutes for a table. Olive Garden is allocating tables using which method?
A) market price
B) first-come, first-served
C) command
D) personal characteristics
E) sharing equally
B
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The cost of risk is the amount by which expected wealth must increase to give the same ________ as a no-risk situation
A) marginal wealth B) marginal utility C) expected utility D) expected wealth
If the marginal utility of Jordyn's 100th dollar of income is 40 utils and the marginal utility of Joshua's 10th dollar is 135 utils, we know
a. money means more to Jordyn than to Joshua b. money means more to Joshua than to Jordyn c. Jordyn has more income than Joshua d. Joshua has more income than Jordyn e. nothing, since we can't make interpersonal utility comparisons
A tax on sellers shifts the supply curve to the left
a. True b. False Indicate whether the statement is true or false
Which of the following is a characteristic of an LDC?
a. All of the answers are correct. b. Lack of entrepreneurs c. Capital flight d. Vicious circle of poverty