One reason individuals are willing to pay for information in uncertain situations is that information
A) can reduce uncertainty.
B) is a way to diversify.
C) is a method of insurance.
D) is a method of self-insurance.
E) always reduces the difference between the probabilities of possible outcomes.
A
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The most likely substitute good for cereal would be:
A. a bagel. B. milk. C. pizza. D. a hot dog.
To reduce the outflow of dollars from the United States, we need to
A. lower the budget deficit and the trade deficit. B. raise the budget deficit and the trade deficit. C. raise the budget deficit and lower the trade deficit. D. lower the budget deficit and raise the trade deficit.
If autonomous consumption rises by $70 and, as a result, Real GDP rises by $350, then the marginal propensity to consume is
A. 0.20. B. 0.80. C. 0.25. D. 0.75. E. none of the above
Referring to Figure 18.2, the peso is likely to appreciate if the exchange rate is either ________ or ________ pesos to the dollar.
A. 10; 11 B. 11; 12 C. 12; 13 D. 13; 14