Marginal revenue product equals the marginal physical product multiplied by the quantity demanded
a. True
b. False
Indicate whether the statement is true or false
False
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Moral hazard implies that
a. Insured individuals exercise less care because they have less incentive to do so b. Insured individuals exercise more care because they have less incentive to do so c. Insured individuals exercise more care because they have more incentive to do so d. Insured individuals exercise less care because they have more incentive to do so
Which of the following is not included in the calculation of federal debt?
a. Debt held by banks b. Debt held by firms c. Debt held by the U.S. Treasury d. Debt held by households e. Debt held by foreign entities
Suppose a consumer buy books and DVDs. The price of a book is $10, the price of a DVD is $20 and the consumer's income is $400. If books are measured on the vertical axis and DVDs are measured on the horizontal axis, then the budget line intersects the vertical axis at:
A. 40. B. 20. C. 10. D. 400.
To estimate the cost of the September 11, 2001 terrorist attacks, which of the following concepts would be used to calculate the value of lost lives?
A. The fallacy of composition B. The concept of acceptable risk C. The total value of lost earnings D. The present value of lost earnings