One way people cope with uncertainty about the future is they:
A. avoid risks when it is reasonable to do so.
B. buy insurance.
C. only select risky alternatives if the expected value is twice as high as for a safe alternative.
D. All of these are ways individuals cope with uncertainty.
B. buy insurance.
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If the cross-price elasticity of demand between blueberries and yogurt is negative, then the two goods are:
A. normal goods. B. inferior goods. C. substitutes. D. complements.
If 1 US dollar costs 1.25 Euros, then 1 Euro must cost _____ US dollars
a. 0.5 b. 0.8 c. 1.0 d. 1.25 e. 1.5
Unemployment caused by the normal labor turnover is called ________ unemployment
A) part-time B) frictional C) involuntary D) cyclical
One argument against free trade is the
A. considerate advantage argument. B. comparative advantage argument. C. absolute advantage argument. D. infant industry argument.