The bigger the arc in the utility curve, the _________ the utility an individual obtains from a certain outcome as opposed to the ________________ from an uncertain gamble with the same expected payoff.
Fill in the blank(s) with the appropriate word(s).
Answer: higher, expected utility
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Cost-push inflation is most likely to occur during a period of
a. falling input costs b. falling unemployment c. rising input costs d. military expansion e. military contraction
How much is the percentage of income received by the lowest quintile on line R?
Which of the following exemplifies a way that foreign trade is restricted without tariffs or import quotas?
a. The regional trade agreement reduced taxes on steel imports from neighboring countries to 15%. b. New standards for foreign-made wine and spirits allowed a higher alcohol content than previous laws. c. Safety regulations demanded that the total lead content of products could not exceed 100 parts per million. d. The government supported domestic leather producers by charging import taxes on foreign leather goods.
Refer to the diagram. If U.S. consumers increase their travel to eurozone nations, we would expect:
A. the demand for euros to increase and the euro to appreciate.
B. the demand for euros to increase and the dollar to appreciate.
C. the supply of euros to increase and the euro to depreciate.
D. the supply of euros to decrease and the dollar to depreciate.