The standard deviation around an expected value is a useful measure of
A) expected value of an asset.
B) economic value of an asset.
C) the difference between the best-case return of an asset and its worst-case return.
D) deviation of an asset's actual returns from its expected returns.
D
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A competitive car wash currently hires 4 workers, who together can wash 80 cars per day. The market price of car washes is $5 per wash, and the price of workers is $60 per day. The car wash should hire a fifth worker if it would increase total production to at least:
a. 92 cars per day. b. 100 cars per day. c. 104 cars per day. d. 110 cars per day.
According to the graph shown, if this economy were to open to free trade, the domestic quantity demanded would be:
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
A. 250.
B. 500.
C. 1150.
D. 1500
An effective minimum wage
a. imposes a price ceiling on the wages of various categories of low-skill workers. b. increases the demand for low-skill workers. c. makes it easier for low skill workers to find jobs. d. increases the earnings of some low-skill workers while reducing the employment and training opportunities available to others.
Relative to an environment with free trade and no tariff, the winners from the tariff are the domestic ________, and the losers from the tariff are the domestic ________.
A. producers of sugar; consumers of sugar and the government B. consumers of sugar; producers of sugar C. producers of sugar and the government; consumers of sugar D. consumers of sugar and the government; producers of sugar