A risk neutral person's utility of income curve is _____________
Fill in the blank(s) with the appropriate word(s).
Ans: linear
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According to Robert Gordon (1969, 1999), the extraordinary expansion of physical production in 1942–45 was achieved by
(a) massive government investment in new plants and equipment. (b) finally bringing into production manufacturing plants and equipment that had been idle since the early 1930s so that big government investment was not necessary. (c) the Federal Reserve's peg on the bond market, which enrolled the private sector to mobilize the necessary capital to invest in new plant and equipment. (d) none of the above.
Happy Cows is a perfectly competitive dairy farm with a 50 percent chance of a high demand of $5 and a 50 percent chance of a low demand of $4. Free Cows is a perfectly competitive dairy farm with a 50 percent chance of a high demand of $6 and a 50 percent chance of a low demand of $3. Which of the following statements is true?
A) All else equal, neither Free Cows nor Happy Cows can benefit from an accurate forecast. B) All else equal, an accurate forecast is more valuable to Happy Cows than Free Cows. C) All else equal, an accurate forecast has the same value to both Free Cows and Happy Cows. D) All else equal, an accurate forecast is more valuable to Free Cows than Happy Cows.
What is Jim's opportunity cost of operating his own business?
a. the total amount of money he puts into capital equipment b. the value of his labor that is put into the business c. the cost of hiring his laborers d. All of the above are correct.
Did the United States ratify the Kyoto Protocol? Why or why not?
a. Yes; but it has failed to meet targets for a number of years. b. No; the United States had promised to sign on January 1, 2008, but never did. c. Yes; and it has met its target each year. d. No; he United States believed the targets were impossible to meet without great harm to the industrial base.