A diagram of an individual's utility from income will be a line with an increasing slope if the individual is risk-averse.
Answer the following statement true (T) or false (F)
False
You might also like to view...
In the classical model, a temporary increase in government purchases causes the new equilibrium to have
A) more employment and a lower real wage than before. B) more employment and a higher real wage than before. C) less employment and a lower real wage than before. D) less employment and a higher real wage than before.
An example of third-party financing of health care is
A) patients paying for their visit to the doctor. B) patients not going to the doctor in order to save money. C) a patient going to another doctor for a second or a third opinion. D) Medicare.
One difference between perfect competition and monopolistic competition is that
a. in perfect competition, firms cannot earn a long-run economic profit b. in perfect competition, firms take full advantage of economies of scale in long-run equilibrium; in monopolistic competition, firms do not c. only under perfect competition is there ease of entry and exit d. in monopolistic competition, the firm's demand curve is horizontal; in perfect competition, the firm's demand curve slopes downward e. in perfect competition, there are many firms; under monopolistic competition, there are few firms
Improvements in the productivity of labor will tend to: a. increase the supply of labor
b. increase the demand for labor. c. decrease the supply of labor. d. decrease the demand for labor.