People who are risk averse dislike bad outcomes more than they like comparable good outcomes
a. True
b. False
Indicate whether the statement is true or false
True
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To calculate the price elasticity of supply, we divide
A) rise by the run. B) the average price by the average quantity supplied. C) the percentage change in price by the percentage change in quantity supplied. D) the percentage change in quantity supplied by the percentage change in price.
The marginal product of capital is the increase in
A) capital needed to produce one more unit of output. B) output from a one-unit increase in capital. C) labor needed to accompany a one-unit increase in capital. D) output from a one-dollar increase in capital.
If the desired reserve/deposit ratio equals 0.10, then every dollar of currency in bank reserves supports ________ of deposits and the money supply, while every dollar of currency held by the public contributes ________ to the money supply.
A. $10; $1 B. $1; $10 C. $0.10; $1 D. $1; $0.10
The Single European Act
A) created a common currency. B) created a free trade area. C) created a customs union. D) created a common market for capital and labor.