Risk-benefit analysis of chemicals is difficult because
a. there is a void in formal assessments of health and ecological risks
b. perception of risk of chemical exposure is not always aligned with actual risk
c. the estimation of social benefits is particularly daunting
d. U.S. policy on toxic chemicals is not as well established as it is for policy on air and water quality
e. all of the above
e. all of the above
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Which of the following is true about a risk-averse individual facing a full menu of actuarily fair insurance contracts to choose from?
A. The individual will "over-insure" if consumption is more meaningful in the good state. B. The individual will "over-insure" if consumption is more meaningful in the bad state. C. The individual will fully insure when tastes are state-independent. D. (a) and (b) are true. E. (a) and (c) are true. F. (b) and (c) are true. G. All of the above. H. None of the above.
Nick can purchase each milkshake for $2. For the first milkshake purchased Nick is willing to pay $4, for the second milkshake $3, for the third milkshake $2 and for the fourth milkshake $1
What is the value of Nick's consumer surplus for the milkshakes he buys? A) $2 B) $9 C) $3 D) $10
Refer to Table 9-9. Suppose that the data in the table above reflect the price levels in the economy. Given that data, we can say that the cost of living rose by ________ between 2015 and 2016?
A) 2% B) 5% C) 8% D) 11% E) 13%
Which of the following is a possible impact of a global savings glut on a small open economy?
A) interest rate would increase B) interest rate would decrease C) domestic savings would increase D) domestic investment would increase