The ________ the utilities from each possible outcome of a situation weighted by the probability of that outcome is called expected utility.
A. change in
B. sum of
C. product of
D. difference in
Answer: B
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Speculators in the financial market:
A. act as buyers only. B. act as sellers only. C. buy and sell assets for financial gain. D. reduces risk in financial markets.
Women earn less on average than men. Which of the following would be the logical conclusion?
a. Women must be the victim of employment discrimination. b. Women must be less productive. c. Men must be more highly motivated and materialistic. d. Without consideration of preferences and productivity factors, differences in unadjusted mean earnings do not necessarily reflect employment discrimination.
Marginal propensity to save (MPS) is equal to:
a. 1 - MPC. b. MPC - 1. c. MPC + 1. d. 1/MPC
Which would be a positive economic statement?
a. Government should provide free housing shelter for the homeless b. Stock prices rose to a new record last month for the fourth month in a row c. The minimum wage should be increased to give people a decent wage d. Americans should buy American products to boost the national economy