If Ann's utility function is U = W0.5, and she invests in a business which can yield $6,400 with probability 1/5, and $3600 with probability 4/5, then her expected utility is
A) 80.
B) 76.
C) 64.
D) 60.
C
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Refer to the table above. What is the market demand for wine when the price is $1?
A) 50 units B) 80 units C) 51 units D) 76 units
Banks would be expected to minimize holding excess reserves because this practice is:
a. illegal. b. not profitable. c. technically difficult. d. subject to a stiff excess reserves tax.
An economy's production possibility curve will be a straight line if: a. resources are not equally substitutable among productive tasks
b. the economy experiences significant unemployment. c. the opportunity cost of production of a good decreases as more of it is produced. d. the opportunity cost of production of a good is constant as more of it is produced.
Adam Smith's invisible hand principle stresses the tendency of
What will be an ideal response?