Which of the following is a fair bet based on the toss of an unbiased coin?
A) head: receive $5, tail: lose $5
B) head: receive $2, tail: lose $3
C) head: receive $0.5, tail: lose $1
D) head: lose $3, tail: lose $3
A
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Holding all else constant, an increase in Mexican real GDP will ________ the demand for dollars in the foreign exchange market and ________ the equilibrium Mexican peso/U.S. dollar exchange rate.
A. increase; decrease B. decrease; increase C. increase; increase D. decrease; decrease
Joshua consumes only apples and bread and is in consumer equilibrium. Joshua reads that eating bread is healthy, so his total utility from each loaf of bread increases. At his new consumer equilibrium Joshua would consume
A) more apples and less bread. B) fewer apples and more bread. C) some combination of apples and bread corresponding to a lower ratio of the marginal utility of bread to the marginal utility of apples. D) the same quantity of apples and the same quantity of bread.
Most businesses in the United States are ________, and the type of business organization that accounts for the LEAST amount of total revenues is ________
A) proprietorships; partnerships B) corporations; proprietorships C) proprietorships; proprietorships D) corporations; partnerships
The real purchasing power of the average worker's yearly earnings in the United States in 2014 was ________ as in 1960.
A. more than twice as large B. about the same C. about half as much D. five times as large