From the expected value of a game, we
A) cannot determine the risk.
B) can determine the risk.
C) can determine exactly how much a player will receive.
D) can infer the subjective probabilities of each possible outcome.
A
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If the U.S. interest rate differential decreases, then in the foreign exchange market the
A) demand for dollars increases. B) quantity supplied of dollars decreases. C) supply of dollars increases. D) quantity supplied of dollars increases. E) supply of dollars decreases.
Suppose an industry is made up of 25 firms, all with equal market share. The four-firm concentration ratio of this industry is
A) 16%. B) 20%. C) 25%. D) It cannot be determined from the information given.
Changes in the macroeconomy, such as an increase in average per person income, can have effects at the microeconomic level, for example, on the profitability of firms in a particular industry
Indicate whether the statement is true or false
If a society only cares about efficiency and not equity, then
A) all points on the contract curve yield the same level of social welfare. B) it will not rely on competitive markets to allocate goods. C) it will maximize the utility of its worst-off member. D) an equitable outcome is impossible.