At a fair carnival roulette wheel, a player can either win $10, $30, or $80 . Assuming that the wheel is fair, what is the expected value of the play?
a. $20
b. $40
c. $60
d. $80
b
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In the figure above, in order to promote an efficient allocation of resources, the government could impose a tax equal to
A) zero. B) $250 per unit. C) $150 per unit. D) $100 per unit.
Initially, when workers are added, marginal product rises and marginal cost falls. Why is this the case?
a. Total product increases by a fixed amount with each additional employee.
b. The equipment is new, and no repair or maintenance costs have set in yet.
c. Marginal costs are fixed costs that are spread over a larger number of employees.
d. Each additional worker is adding more to the total output than the previous worker.
In 2005, developed countries began to offer "aid for trade" programs that:
A. give developing nations funds in exchange for free trade agreements. B. give developing countries funds to develop industries that create exports the developed nations want. C. fund initiatives in developing countries that minimize trade barriers and provide infrastructure critical for trade. D. give developing nations funds in exchange for cheaper imports.
Reserves of a bank equal its
A) vault cash. B) deposits with the Federal Reserve. C) vault cash plus deposits with the Federal Reserve. D) vault cash plus deposits of its customers.