Which of the following statements about open angle glaucoma is false?
A. it accounts for 90% of glaucoma cases
B. progressive clogging of drainage canals can increase interocular pressure
C. fluid builds up in the aqueous humor
D. will present with severe pain, nausea and vomiting
E. all of these are true
Answer: D. will present with severe pain, nausea and vomiting
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Mike has the utility of wealth curve shown in the figure above. He owns a car worth $20,000, and that is his only wealth. There is a 10 percent chance that Mike will have an accident within a year. If he does have an accident, his car is worthless
a) What is Mike's expected utility? b) What is the maximum amount that Mike is willing to pay for auto insurance? c) Suppose all car owners are like Mike insofar as they have a 10 percent chance of having an accident. An insurance company agrees to pay each person who has an accident the full value of his or her car. The company's operating expenses are $1,000. What is the minimum insurance premium that the company is willing to accept? d) Will Mike buy the company's policy? Why or why not?
Whatever serves as a medium of exchange is: a. money
b. money, as long as it is also the best such medium of exchange available. c. money, as long as it is not also a commodity. d. money, as long as it is not also legal tender. e. not money, unless it continues to be backed by its issuing institution.
In foreign exchange markets, the supply of U.S. dollars is determined by all of the following except
A. Foreign demand for American exports. B. Speculation. C. American demand for imports. D. American investments in foreign nations.
Voters are making a choice to spend money on three projects: a dam, a school, or a road. In the choice between the dam and the school, the majority favors the school. In a choice between a dam and a road, the majority favors a dam. In a choice between a road and a school, the majority favors a road. These rankings indicate that majority voting may:
A. Result in economically efficient outcomes because of rent-seeking behavior B. Reflect irrational preferences C. Produce inconsistent choices D. Lead to consistent choices in spite of irrational community preferences