Workers should invest in additional human capital as long as the:
A. marginal benefit exceeds the marginal cost.
B. opportunity cost exceeds the marginal benefit.
C. opportunity cost is zero.
D. marginal cost exceeds the marginal benefit.
Answer: A
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The practice of spreading one's wealth over a variety of different financial investments in order to reduce overall risk is called:
A. diversification. B. following the risk premium. C. allocation. D. risk reservation.
According to this Application, some economists believe that recessions which are caused by ________ normally have ________ recoveries
A) high oil prices; faster B) financial crises; faster C) high oil prices; slower D) financial crises; slower
In a game of bargaining, those who _______________ will likely get the highest payoff.
A. are patient B. are cooperative C. have a commitment strategy D. collude
The money multiplier yielded by the deposit-creation formula assumes that
A. banks hold no excess reserves. B. banks hold excess reserves. C. recipients of loans take some of the proceeds in cash. D. recipients of loans do not redeposit their funds in other banks.