Risk-averse managers often select a secure strategy that provides the
A. lowest payoff among the best payoffs.
B. lowest payoff among the worst payoffs.
C. highest payoff among the best payoffs.
D. highest payoff among the worst payoffs.
Answer: D
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According to Keynesians, an increase in the money supply will have its least impact on GDP and the greatest impact on the price level when the aggregate demand curve intersects
a. the horizontal portion of the aggregate supply curve b. the vertical portion of the aggregate supply curve c. the upward sloping portion of the aggregate supply curve d. either the horizontal or upward sloping portion of the aggregate supply curve e. either the horizontal or upward sloping portion of the aggregate supply curve
An increase in market demand will cause an increase in industry output in the long run because
a. new firms enter the industry. b. new firms enter the industry and all firms increase their output. c. all firms decrease their output but more new firms enter. d. no firms enter but the existing firms increase their output.
Economic principles are generalizations relating to ___________ in economic behavior or to the economy itself.
a. positive tendencies b. extreme tendencies c. inverse tendencies d. average tendencies
All of the following are factors that limit a poor nation's economic growth except
A. lack of entrepreneurial ability. B. lack of human capital. C. insufficient capital formation. D. insufficient controls on free trade.