Nancy's utility of wealth curve is given in the above figure. She is faced with a risky proposition which yields an income of $50 one-third of the time, $100 one-third of the time, and $150 one-third of the time. Her expected utility is
A) 100.
B) 140.
C) 150.
D) 420.
B
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Between 2007 and 2009, which of the following occurred in the United States, but not in the United Kingdom?
A) an increase in unemployment B) a negative demand shock C) a negative rate of inflation (i.e., deflation) D) a sharp increase in financial frictions E) a negative supply shock
Producer surplus from a unit of output is the difference between the market price and the seller's cost of producing that unit
a. True b. False Indicate whether the statement is true or false
Implicit costs are costs that:
A. represent forgone opportunities. B. do not depend on the quantity of output produced. C. require a firm to spend money. D. depend on the quantity of output produced.
M1 = 1,000 Small denomination time deposits = 1,500 Savings deposit = 1,800 Money market mutual funds = 300 Large denomination time deposits = 800 If M3 is 4,000, small denomination time deposits are 1,000, and large denomination time deposits are 500, how much is M2?
What will be an ideal response?