Today, __________ leads the world with more than 800 million cell phone users.
A. the United States
B. China
C. Japan
D. Canada
B. China
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The function of money as a store of value diminishes if
A) money is no longer backed by gold. B) prices of goods and services increase. C) people begin to barter. D) interest rates increase.
A risk neutral individual
a. Values a lottery at more than its expected value b. Values a lottery at less than its expected value c. Values a lottery at its expected level d. Tends to play a lot of lotteries
Suppose someone offers Max the following gamble: with probability 0.50 he will win $10 and with probability 0.50 he will lose $8. The expected value of this gamble is:
A. $1. B. $2. C. $0. D. $5.
The curve in the above graph
A. is a perfectly elastic demand curve.
B. is a perfectly inelastic demand curve.
C. is a very elastic demand curve.
D. is a very inelastic demand curve.