A risk-averse individual will:
A. accept only better-than-fair gambles.
B. only choose certain events.
C. never accept any gamble.
D. accept a fair gamble.
Answer: A
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The above figure shows the market for buckets of golf balls at the driving range. A new leisure time tax is placed on suppliers in this market, shifting the supply curve from S0 to S1. The amount of this tax is ________ per bucket of golf balls
A) $4 B) $2 C) $2.50 D) $1 E) $3
According to the HRV growth diagnostic framework why is there no "one size fits all" development policy?
What will be an ideal response?
Why is China's currency undervalued?
A) The Asian miracle is over. B) They do not trade with the U.S. C) They do not allow their currency to appreciate despite large external surpluses. D) They are stockpiling international reserves to protect against the next East Asian crisis. E) They are not aware of the real value of their currency.
Firms in long-run equilibrium in a perfectly competitive industry will produce at the low points of their average total cost curves because
a. free entry implies that long-run profits will be zero no matter how much each firm produces. b. firms seek maximum profits and to do so they must choose to produce where average costs are minimized. c. firms maximize profits and free entry implies that maximum profits will be zero. d. firms in the industry desire to operate efficiently.