If Joanna is risk averse, then
a. her utility function exhibits the property of decreasing utility.
b. her utility function exhibits the property of increasing marginal utility.
c. she dislikes bad things more than she likes comparable good things.
d. she is unlike most people, because most people are not risk averse.
c
You might also like to view...
In surveys about inflation during the 1990s, what percentage of the U.S. population as a whole answered “Fully agree” that preventing high inflation was a highly important national priority?
a. 18% b. 33% c. 52% d. 75%
That is capital deepening? How does it affect labor productivity?
If the demand for land shifts upward, rents will be
a. earned by some land that was formerly unprofitable. b. lost to many landowners. c. diminished for society as a whole. d. taxed away to help pay the costs of government.
Which of the following would cause the money supply in the United States to expand?
A. a decrease in reserve requirements B. an increase in the discount rate C. the sale of U.S. government bonds by a Federal Reserve bank D. an increase in the world supply of gold