When the marginal product of an input is ______ than the average product, the marginal units of the input _____ the average product.
A. larger; lower
B. smaller; raise
C. smaller; do not affect
D. larger; raise
D. larger; raise
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Refer to Scenario 12.1. What is the probability of Paula trying to rescue the man and Simon not helping?
A) 9% B) 21% C) 49% D) 70%
If the risk associated with a particular outcome is ________, or the value of a particular outcome is ________, then cost-benefit analysis might lead people to indulge in too much risk
A) overestimated, overestimated B) overestimated; underestimated C) underestimated; overestimated D) underestimated; underestimated
In the United States, private health insurance companies
A) are all for-profit firms. B) can be either for-profit or not-for-profit firms. C) are all not-for-profit firms. D) are all government-run firms.
A relatively flat aggregate demand curve indicates that
A) velocity is relatively constant. B) the economy is near full employment. C) inflation is relatively low. D) spending is sensitive to changes in the price level.