A risk lover enjoys the gamble and the thrill of taking the risk enough that it adds ___________ to their income to take the gamble
Fill in the blank(s) with the appropriate word(s).
Answer: utility
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Which of the following taxes is based on the benefit principle?
a. Income taxes paid for national defense b. Payroll taxes paid for Social Medicare c. Education taxes paid by parents d. Income taxes paid for scientific research
Unanticipated inflation is less of a problem than anticipated inflation
Indicate whether the statement is true or false
Which of the following events is least likely to take place under a fixed exchange rate system?
A) an increased volume of trade because of a decline in exchange rate volatility B) increased cross-border capital flows C) increase in cost of trade because of higher transaction costs D) increased cross-border labor flows in integrated economies
A futures contract is essentially the same thing as a forward contract.
a. true b. false