The study of the decision-making process of government is the study of:
a. public choice theory.
b. rational expectations theory.
c. Keynesian economics.
d. social economics.
a
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The above figure shows the utility of wealth curve for a homeowner whose only possession is a $50,000 house
If there is a 20 percent chance that the home could be entirely destroyed, would this person buy a $20,000 insurance policy to replace the house if destroyed? A) No, it is too expensive. B) No, he is not risk averse. C) Yes, the homeowner would pay even more. D) Yes, this is the most the homeowner would pay.
Which of the following people would be counted in the labor force?
a. Chou, who lost his job and last looked for work three months ago b. Stephanie, who holds a Ph.D. in history but can only find part-time employment at a fast food restaurant c. Jordan, who would like to work as a stockbroker but is a stay-at-home father d. Steffan, who is a patient in a mental hospital e. Monique, age 90, who is enjoying her retirement in Montana
A new approach to management that uses market structures is
A) CAPM. B) market based management. C) total quality management. D) networking.
Only government restrictions serve as entry barriers
a. True b. False Indicate whether the statement is true or false