A person who is willing to take a bet with a negative expected value is risk-loving.
Answer the following statement true (T) or false (F)
True
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Technological advances have resulted in lower prices for digital cameras. What is the impact of this on the market for traditional (non-digital) cameras?
A) The demand curve for traditional cameras shifts to the right. B) The demand curve for traditional cameras shifts to the left. C) The supply curve for traditional cameras shifts to the left. D) The supply curve for traditional cameras shifts to the right.
Which of the following is an example of an activity that generates positive externalities
a. driving a car b. producing clothing c. washing your car d. education e. building a bridge
Which of the following goods is both excludable and rival in consumption?
a. a wristwatch b. fire protection in a small town c. fish in the ocean d. efforts to fight poverty
If a goldsmith starts out the day with 100 gold coins in his safe and 100 receipts in circulation and he wrote out 100 receipts that day as loans, how much would his reserve ratio be at the end of the day?
Fill in the blank(s) with the appropriate word(s).