___________ is the payoff/earnings from a particular gamble.
Fill in the blank(s) with the appropriate word(s).
Ans: Expected Value
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The probably effect of introducing an increased number of automatic teller machines is to
A) increase money demand, shifting the LM curve up and to the left. B) increase money demand, shifting the LM curve down and to the right. C) decrease money demand, shifting the LM curve up and to the left. D) decrease money demand, shifting the LM curve down and to the right.
Overt collusion is relatively rare because: a. they are illegal in some countries, including the United States. b. members find it difficult to agree on key decisions
c. members frequently have an incentive to cheat on the cartel. d. of all the above reasons.
Long-run economic growth (meaning the economy's average annual rate of growth over an extended period is greater than zero) is depicted by a(n)
a. horizontal trend line b. downward-sloping trend line c. fluctuating trend line (which fluctuates around the average) d. upward-sloping trend line e. vertical trend line
In the calculation of aggregate income, the value added at each stage of production by each firm equals the firm's:
a. selling price minus payments for inputs. b. total costs minus the profits and interest payments. c. total fixed costs and the firm's average rate of return. d. appreciation in market value of all firms over the last year.