Distinguishing between stock measures and flow measures, the flow measures are
A) the labor force only.
B) the number of people who lost their jobs and the number of people who found jobs only.
C) the total number of people who are unemployed only.
D) the total number in the labor force and the total number of people who are unemployed only.
B
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Van, whose utility of wealth curve is shown in the above figure, owns a home that is valued at $100,000. Initially there is a 10 percent chance that the house will be destroyed by hurricane
As the risk of destruction due to hurricane rises from 10 percent to 20 percent, the minimum cost of insurance A) stays the same. B) increases by $10,000. C) increases by $20,000. D) increases by $30,000.
If a monopoly's Lerner Index exceeds 1, then
A) it is earning maximum profit. B) it has ultimate market power. C) it must be pricing below marginal cost. D) marginal revenue is negative.