When offered a bet at unfair odds, a risk-neutral individual will
a. not bet.
b. bet everything on the outcome favored by the unfair odds.
c. bet everything on the outcome not favored by the unfair odds.
d. be indifferent about the amount that he bets.
b. bet everything on the outcome favored by the unfair odds.
You might also like to view...
What happens to the real wage rate and potential GDP if population increases?
What will be an ideal response?
A technological improvement can cause the production possibilities curve to shift outward because
A) it increases costs and contributes to lower production rates. B) maximum feasible outputs of both goods increase. C) production will fall, but jobs will be saved. D) it causes increases in unemployment.
During which phase of the business cycle would there most likely be shortages of workers in certain skill areas?
A. Expansion B. Peak C. Trough D. Contraction
Collective bargaining
A. is bargaining between unions and management. B. has nothing to do with fringe benefits. C. is practiced in non-union related disputes. D. is illegal in many states.