Which of the following is an example of Maslow's third level of needs?
a. sex
b. money
c. love
d. home
Ans: c. love
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Individuals who are more risk averse
a. buy less insurance b. buy more insurance c. are not more or less inclined to buy insurance d. are philosophically opposed to insurance
At $30 each, Jack will buy 1 Blu-ray and at $25, he will purchase 2 . If the price is $20, Jack's consumer surplus is:
a. $10. b. $15. c. $20. d. $25.
To achieve the optimal provision of public goods, the
a. market should be allowed to arrive at an equilibrium without government intervention. b. government must limit the provision of the goods. c. government must tax producers of the goods. d. government must either provide the goods or subsidize their production.
Which individual is out of the labor force?
a. Matthew is working 30 hours per week. b. Sandra is without a job, is able to work, and is actively looking for work. c. Ashley is working 6 hours per week. d. John is without a job, is able to work, but is not actively looking for work.