Reciprocity means:
A. responding to another's actions with a similar action.
B. deriving utility from an action that will cause another's utility to increase.
C. doing good things for people and asking nothing in return.
D. deriving utility from the action of a stranger.
A. responding to another's actions with a similar action.
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How do financial intermediaries reduce risk?
What will be an ideal response?
Marginal revenue product falls as more labor is hired because
A) the price of the product must fall for a perfectly competitive firm to sell more. B) the marginal product of labor is negative as additional units of labor are hired. C) the wage rate rises as more workers work more hours. D) the marginal product of labor falls as a result of the law of diminishing returns.
In 1999, what percentage of K-12 students attended private schools?
a. Around 6 percent b. Around 9 percent c. Around 11 percent d. Around 14 percent
Who controls a sole proprietorship?
A) the owner B) the stockholders C) the bondholders D) the employees