An increase in Todd's wealth from $2 million to $4 million raises his utility from 400 units to 500 units. If he has a utility of wealth curve with the typical shape showing risk aversion, then with a wealth of $6 million his utility might be
A) 500 units.
B) 570 units.
C) 600 units.
D) 620 units.
B
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When you graduate from college, you may not immediately jump into a job but wait a few months "sampling" the possibilities. During this time, you may be forced to live with your parents and play by their rules. When the BLS comes by to inquire about your working status and you tell them your story, the BLS will record you as being
a. in the labor force but structurally unemployed b. spoiled and lazy c. frictionally unemployed d. not part of the labor force because you're not really looking for a job e. not in the labor force because you are categorized as belonging to a set of people who are of military age and not working
Suppose the wage earned by pear pickers suddenly rises. Which of the following effects would we most likely observe as a result?
a. The supply of apple pickers would decrease and the equilibrium wage of apple pickers would decrease. b. The supply of apple pickers would decrease and the equilibrium wage of apple pickers would increase. c. The demand for apple pickers would increase and the equilibrium wage of apple pickers would decrease. d. The demand for apple pickers would decrease and the equilibrium wage of apple pickers would decrease.
Congress and the President implement an investment tax credit. Which curve in the market for loanable funds shifts, which direction does it shift, and what happens to the interest rate?
Within the United States, every city has:
A. a fixed exchange rate with every other city. B. their own currency board. C. an independent monetary policy. D. a floating exchange rate with every other city.