Expected value represents
A) the actual payment one expects to receive.
B) the average of all payments one would receive if one undertook the risky event many times.
C) the payment one receives if he or she makes the correct decision.
D) the payment that is most likely to occur.
B
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In a short-run production process, the marginal cost is rising and the average variable cost is falling as output is increased. Thus,
A) average fixed cost is constant. B) marginal cost is above average variable cost. C) marginal cost is below average fixed cost. D) marginal cost is below average variable cost.
Entrepreneurship is the act of starting new firms and taking the risks that are necessary in business opportunities
a. True b. False Indicate whether the statement is true or false
A farm equipment retailer in Azerbaijan exchanges Azerbaijan manats (the currency of Azerbaijan) for $300,000 a bank in Azerbaijan was holding. It uses the $300,000 to buy farm equipment from a U.S. company. The U.S. company deposits half of these funds
in a U.S. bank and exchanges the other half for euros from a bank in London. As a result of these transactions, by how much, if at all, and in which direction did: A. U.S. net exports change? B. U.S. net capital outflow change?
In contrast to changes in government spending, tax changes affect spending
A. directly. B. in the same proportion. C. by a greater amount. D. indirectly.