Economists believe that people are:
A. generally risk-seekers.
B. generally risk-averse.
C. always risk-averse.
D. always risk-seekers.
B. generally risk-averse.
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Differentiate between a solvent bank and an insolvent bank. Which of the two is likely to have a greater stockholders' equity?
What will be an ideal response?
Firms still have the incentive to cheat even after a game leads to cooperation
Indicate whether the statement is true or false
The more inelastic are demand and supply, the greater is the deadweight loss of a tax
a. True b. False Indicate whether the statement is true or false
Which of the following are the elements generally found in an inflation gap?
a. producing beyond normal capacity; high unemployment, high wages; low prices b. producing beyond normal capacity; low unemployment, high wages; high prices c. producing below normal capacity; high unemployment, high wages; high prices d. producing below normal capacity; low unemployment, low wages; high prices