Which of the following actions may be explained by the law of small numbers?
A) People buy lottery tickets.
B) People buy air travel insurance.
C) People purchase extended or long-term warranties or maintenance contracts for new automobiles and appliances.
D) all of the above
D
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When nations specialize in their areas of comparative advantage and then trade with the rest of the world, the result is that
A) the average standard of living in the world will go down. B) the average standard of living in the world will go up. C) the world will move from a point on the production possibilities curve to a point inside the curve. D) worldwide economic efficiency will decrease.
Centralization of all decision making in an organization is essential to protect the interests of its shareholders
Indicate whether the statement is true or false