If a fair gamble is played many times, the combined monetary losses or gains will
a. approach zero.
b. be negative.
c. be positive.
d. result in an outcome that cannot be determined without more information.
a
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Marginal utility is measured by the maximum amount of money a consumer is willing to pay for one more unit of a commodity.
Answer the following statement true (T) or false (F)
Which market type has characteristics as follows: large number of firms, differentiated product?
A) perfect competition B) monopolistic competition C) oligopoly D) monopoly
Assuming seigniorage equals zero, the federal debt is ________ and the budget deficit is ________
A) a flow variable representing the total value of government bonds outstanding; a stock variable representing the yearly increase in value of newly issued government bonds B) a stock variable representing the total value of government bonds outstanding; a flow variable representing the yearly increase in value of newly issued government bonds C) a flow variable representing the yearly increase in value of newly issued government bonds; a stock variable representing the total value of government bonds outstanding D) a stock variable representing the yearly increase in value of newly issued government bonds; a flow variable representing the total value of government bonds outstanding
Why do suppliers hoard their goods during periods of high inflation?
What will be an ideal response?