Refer to the scenario above. What is the expected value of the gamble?
A) 0
B) $50
C) $75
D) $100
A
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In the pre-World War I period, the United Kingdom exported mainly
A) manufactured goods. B) services. C) primary products including agricultural. D) technology intensive products. E) livestock.
Which of the following statements best describes high-income economies’ relationship with inflation?
a. The high-income economies appear to have a political consensus to hold inflation low, but not the economic tools to do so. b. The high-income economies appear to have the economic tools to hold inflation low, but not the political consensus to do so. c. The high-income economies appear to have both a political consensus to hold inflation low, and the economic tools to do so. d. The high-income economies do not appear to have a political consensus to hold inflation low, and the economic tools to do so.
A key tool of countercyclical fiscal policy is
a. the interest rate b. the federal funds rate c. government spending d. the regulatory code e. Presidential executive orders
If the marginal cost and marginal revenue curves intersect at two different points, then maximum profit occurs at
a. the output level where the MC curve crosses the MR curve from below b. the output level where the MC curve crosses the MR curve from above c. both points d. an output level between the two points e. an output level beyond the second point