Most agree that ______________ is the degree to which the overall quality of one's life is judged as favorable. The General Social Surveys (GSS) of the United States asks questions about this
a. Happiness
b. Fortitude
c. Effectiveness
d. Decision making
A
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The lottery this evening is worth $50 million dollars in your state. There are two people in your neighborhood that are buying lottery tickets. One is a student with little financial knowledge or business acumen
The other is a successful entrepreneur that is earning 20% rate of return on his business. Which of these people is likely to check off the "cash" option on the ticket and which is likely to choose the structured payout and why?
Which of the following is not true about a production possibilities curve? The curve:
a. indicates the combinations of goods and services that can be produced with given technology. b. indicates the efficient production points. c. indicates the non-efficient production points. d. indicates the feasible (attainable) and non-feasible production points. e. indicates which production point will be chosen.
A negative externality exists when ______.
a. a situation occurs where an informed party benefits in an exchange by taking advantage of knowing more than the other party b. the available information is initially distributed in favor of one party relative to another in an exchange c. costs spill over to an outside party who is not involved in producing or consuming the good d. benefits spill over to an outside party who is not involved in producing or consuming the good
In an agency relationship, the costs incurred by agents to ensure that a principal is compensated if they take any action that is detrimental to the principal are known as
A. recurring losses. B. bonding costs. C. monitoring costs. D. residual losses.