Juanita worked for a defense contractor in the United States. During the 2008 recession, the government cut spending and Juanita and ninety-nine others were laid off. In such a case, the unemployment Juanita is experiencing is _____

The types of goods Japan exports and imports appear to be well explained by

A) Japanese endowments of factors of production (e.g. land, labor, capital, natural resources). B) high and rising Japanese tariffs. C) advertising and other sales promotion efforts. D) All of the above.

If fair insurance is offered to a risk-averse person, she will

A) buy enough insurance to eliminate all risk. B) not buy any insurance because it is overpriced. C) not buy any insurance since the marginal utility of the amount of the payment is positive. D) buy enough insurance to cover about half of the possible loss.