People who choose not to participate in fair gambles are called
a. risk takers.
b. risk averse.
c. risk neutral.
d. broke.
b
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If an economy is represented by a point along its production possibilities curve
A) it can produce more of one product only if it produces less of another product. B) it cannot produce more of one product unless it stops producing the other product entirely. C) it can produce more of one product even if it does not produce less of another product. D) it cannot possibly produce more of one product, even if it produces less of another product.
Which country has the highest per capita health care expenditures in the world?
A) Canada B) France C) United States D) Japan
The price index was 220 in one year and 238.2 in the next year. What was the inflation rate?
a. 8.3 percent b. 108.3 percent c. 4.8 percent d. 38.2 percent
Which of the following is most likely to generate a surplus?
A. a price ceiling B. a price floor C. an illegal market D. all of these