If Ringo is risk averse, at a wealth of $200,000 his utility of wealth curve has a ________ slope and his marginal utility of wealth is ________ than at a wealth of $100,000
A) negative; smaller
B) negative; larger
C) positive; smaller
D) positive; larger
C
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A concert in a crowded auditorium is ________ in consumption
A) non-excludable and non-rival B) excludable but non-rival C) excludable and rival D) non-excludable but rival
According to economists, one of the signs of an unhealthy economy is a(n)
a. rising labor productivity. b. increasing real GDP. c. declining real GDP. d. declining unemployment.
If a firm decreases production, then its:
A. variable costs rise. B. total costs increase. C. fixed costs stay the same. D. All of these are true.
According to purchasing-power parity, if the price of a basket of goods in the U.S. rose from $1,500 to $2,000 and the price of the same basket of goods rose from 600 units of some other country's currency to 1,000 units of that country's currency, then the
a. nominal exchange rate would appreciate. b. nominal exchange rate would depreciate. c. real exchange rate would appreciate. d. real exchange rate would depreciate.