The ________ the utilities from each possible outcome of a situation weighted by the probability of that outcome is called expected utility.
A. change in
B. sum of
C. product of
D. difference in
Answer: B
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Should European nations which are not currently using the euro choose to adopt the euro as their currency, these countries would risk giving up the ability to use ________ to stabilize their economies in the event of a recession
A) contractionary fiscal policy B) expansionary monetary policy C) expansionary fiscal policy D) contractionary monetary policy
Refer to Figure 18-1. Area B + C represents
A) the portion of sales tax revenue borne by consumers. B) the portion of sales tax revenue borne by producers. C) the excess burden of the sales tax. D) sales tax revenue collected by the government.
For resources with vertical supply curves, earnings comprise of both economic rent and transfer earnings
a. True b. False Indicate whether the statement is true or false
Which of the following changes would clearly increase the supply of money in the banking system?
a. an increase in the percentage of money people want to hold as currency and a decrease in the fraction of deposits banks want to hold as excess reserves b. an increase in the percentage of money people want to hold as currency and an increase in the fraction of deposits banks want to hold as excess reserves c. a decrease in the percentage of money people want to hold as currency and a decrease in the fraction of deposits banks want to hold as excess reserves d. a decrease in the percentage of money people want to hold as currency and an increase in the fraction of deposits banks want to hold as excess reserves