_____________ is the tendency of people to refuse to accept fair gambles
Fill in the blank(s) with the appropriate word(s).
Answer: Risk aversion
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A firm’s break-even point occurs where
a. marginal revenue equals marginal cost. b. marginal revenue equals average variable cost. c. total revenue equals total cost. d. total revenue equals total variable cost.
Suppose the price of one euro is fixed at $1.00. A Dutch oil company discovers new oil reserves in the North Sea and offers the oil for sale. What is the impact on the foreign exchange market?
a. The dollar price of euros decreases from $1.50 to $1.00.
b. Decreasing demand for European goods shifts D2 to D1.
c. U.S. consumers demand more European goods shifting D1 to D2.
d. The quantity of euros demanded changes from Q2 to Q1.
Assuming all else equal, if the price of fuel and energy increases, ________
A) a firm's labor demand curve shifts to the right B) a firm moves to a lower point along its labor demand curve C) a firm's labor demand curve shifts to the left D) a firm moves to a higher point along its labor demand curve
Based on the data in the table above, what does GDP equal?
A) $8,900 billion B) $10,200 billion C) $9,800 billion D) $10,400 billion E) $10,000 billion