The primary difference(s) between the standard deviation and the coefficient of variation as measures of risk are:
a. the coefficient of variation is easier to compute
b. the standard deviation is a measure of relative risk whereas the coefficient of variation is a measure of absolute risk
c. the coefficient of variation is a measure of relative risk whereas the standard deviation is a measure of absolute risk
d. the standard deviation is rarely used in practice whereas the coefficient of variation is widely used
e. c and d
c
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If the Fed raises the legal reserve requirement to 40 percent, and if the total money supply is at its maximum and is $750, the initial deposit must have been
a. $40 b. $250 c. $300 d. $450 e. $1,875
Big Bear Enterprises, which competes in a perfectly competitive market, is producing so that the point chosen along the production possibility frontier is socially preferred. Big Bear Enterprises has achieved which of the following?
a. Allocative efficiency b. Productive efficiency c. Economies of scale d. Long-run equilibrium
The ability of an economy to produce greater levels of output is called:
a. negative economics. b. economic growth. c. positive economics. d. the law of specialization.
John is an employee at a car manufacturer. Today he has come into work to find that production has stopped because the government has determined that the steel used in the cars will be better used in the manufacture of a new railway line. John doesn't mind, because although his wages are low, he gets paid whether there is any work for him to do or not. John MOST likely lives in a ________.
A) traditional economy B) planned economy C) market economy D) mixed economy E) capitalist economy