The distribution of income in United States is has become _________ than it was before 1990.
a. more equal
b. less equal
c. all the above
d. none of the above
Answer: b. less equal
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When financial institutions are able to reduce the costs of information for each service they offer by applying the same information source to each service, we say that the financial institution is realizing
A) economies of scope. B) economies of scale. C) increasing returns. D) diminishing marginal returns.
To calculate the total utility of consuming N quantity of a product:
A. add the total satisfaction of consuming each product up to N. B. multiply the additional satisfaction from consuming the Nth product by its price. C. add the additional satisfaction of consuming each product up to N and multiply by its price. D. multiply total satisfaction from consuming N products by N.
If a U.S. importer can purchase 10,000 British pounds for $20,000, the rate of exchange is:
A. $1 = 2 British pounds in the United States. B. $2 = 1 British pound in the United States. C. $1 = 2 British pounds in Great Britain. D. $.5 = 1 British pound in Great Britain.
Refer to the information provided in Figure 17.1 below to answer the question(s) that follow. 
Figure 17.1 Refer to Figure 17.1. Dmitri has two job offers when he graduates from college. Dmitri views the offers as identical, except for the salary terms. The first offer is at a fixed annual salary of $40,000. The second offer is at a fixed salary of $20,000 plus a possible bonus of $40,000. Dmitri believes that he has a 50-50 chance of earning the bonus. If Dmitri takes the offer that maximizes his expected utility and is he is risk averse, then
A. he will take the first offer. B. he will take the second offer. C. he is indifferent between the offers-both yield the same expected utility. D. Indeterminate from the given information-we cannot say what he will do.