Your utility function is given by U = M1/2. What is the expected utility of the following coin toss: heads you win $81, tails you win $100?

The income effect of a price change results in a

A) movement along the demand curve due to a change in relative prices. B) shift of the demand curve when income changes. C) shift of the demand curve due to a change in purchasing power brought about by the price change. D) movement along the demand curve due to a change in purchasing power brought about by the price change.

Japan exports more goods than any other country

Indicate whether the statement is true or false