The more risk averse people are, the ________ likely they will purchase insurance, and the ________ money they are willing to pay for the insurance.
A) more; more
B) less; more
C) less; less
D) more; less
A) more; more
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Referring to Figure 19.1, the peso is likely to depreciate if the exchange rate is either ________ or ________ pesos to the dollar
A) 10; 11 B) 11; 12 C) 12; 13 D) 13; 14
The consumption function expresses the:
a. relation between consumption and dissaving. b. relation between consumption and disposable personal income. c. purposes of consumption. d. relation between consumption and dissaving.
For a wood furniture manufacturer, an increase in the cost of lumber will cause the supply curve to:
A. shift to the right. B. become steeper. C. become flatter. D. shift to the left.
Consumers who clip and redeem discount coupons ________.
A. exhibit the same price elasticity of demand for a given product than consumers who do not clip and redeem coupons B. exhibit a relatively higher price elasticity of demand for a given product than consumers who do not clip and redeem coupons C. cause total revenue to decrease for firms that issue coupons for their products D. exhibit a relatively lower price elasticity of demand for a given product than consumers who do not clip and redeem coupons