Which of the following games involving the roll of a single die is a fair bet?
A) Bet $1 and receive $1 if 3 or 4 comes up.
B) Bet $1 and receive $1 if 3, 4, or 5 comes up.
C) Bet $1 and receive $4 if 6 comes up.
D) None of the bets is a fair bet.
B
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Pat gives up a $40,000 per year job to stay at home and take care of the house. By so doing, Pat saves $15,000 in child care and house cleaning services which he now performs himself. The direct effect on GDP from Pat's decision is a decrease of
A) $25,000. B) $15,000. C) $30,000. D) $40,000. E) $55,000.
Refer to Figure 15-4. In the figure above, a movement from point A to point B would be caused by
A) an increase in the interest rate. B) a decrease in the price level. C) a decrease in real GDP. D) an increase in the price level.
If Stock A sometimes increases and sometimes decreases in value when Stock B increases in value at the same time, they are
A) negatively correlated. B) uncorrelated. C) positively correlated. D) random bets.
According to the article "What's Behind Starbucks' Price Hike," Starbucks raised prices due to
A. Increases in the costs of wages and fuel. B. Lack of competition. C. A decrease in brand loyalty for Starbucks. D. Elastic demand.