Individuals who face greater risks
a. are more likely to purchase insurance
b. are less likely to purchase insurance
c. are neither more nor less likely to purchase insurance
d. are risk neutral
a
You might also like to view...
Because of transactions which take place in the underground economy, the
a. GDP calculation tends to overstate the actual value of goods sold in the economy. b. GDP calculation tends to accurately portray the value of goods sold in the economy. c. GDP calculation tends to understate the actual value of goods sold in the economy. d. value of the GDP calculation will be equal to the value of the national income calculation. e. value of the GDP calculation through the expenditure approach will be greater then the value calculated through the income approach.
A grower faces a price of $0.13/pound for his/her pumpkins. The buyers of the pumpkins will buy as many pumpkins as offered by the grower at this price. The pumpkin farmer evaluates his/her costs and finds that his/her production costs (average total costs) are $0.16 per pound. He/she also evaluates the marginal cost of production and finds that the marginal cost of production at the current level of production is $0.14 per pound. The average variable cost of production at the current level is $0.12 per pound. In the short run, the producer should try to:
a. Increase amount produced to get maximum profit b. Decrease the amount produced to get maximum profit c. Leave unchanged the amount produced to get maximum profit d. Stop producing and
A worker's total earnings for one day is $100. He received a $20 fixed payment and consumes 14 hours of leisure. What is the hourly wage rate?
A. $6 B. $4 C. $8 D. $10
If product prices were stated in terms of gallons of milk, then milk would be functioning primarily as:
A. legal tender. B. a unit of account. C. fiat money. D. a store of value.