List two ways a risk adverse person may attempt to reduce risks
buy insurance
diversify his portfolio
buy assets with low risk but low return
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In the short run, if average product is at its maximum, then average variable cost is at its minimum
Indicate whether the statement is true or false
That some talented people may not enter an occupation because they have heard that people with their personal characteristics do not get hired in that occupation is known as
A) economic discrimination. B) a negative feedback loop. C) a compensating difference. D) worker discrimination.
Strong evidence of convergence exists for ________
A) wealthy nations that belong to the Organization for Economic Cooperation and Development B) both rich and poor nations C) sub-Saharan African economies and the economies of North America D) European and Caribbean economies
Price elasticity of supply
a. is always a number between 0 and 1 b. is always a negative number c. is always greater than or equal to 0 d. is always greater than 1. e. can take on any value.