Buying insurance and then never making a claim:
A. is considered by economists to be irrational behavior.
B. means buying the insurance was a bad decision.
C. does not mean buying the insurance was a bad decision.
D. is a poor use of money.
C. does not mean buying the insurance was a bad decision.
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With everything else the same, in the foreign exchange market the
A) larger the value of U.S. exports, the greater is the quantity of dollars demanded. B) lower the exchange rate, the smaller the amount of U.S. exports. C) the lower the exchange rate, the smaller is the expected profit from buying dollars. D) the higher the exchange rate, the cheaper are U.S.-produced goods and services.
In economic terminology, the accumulated training and education that workers receive to increase their productivity is referred to as
A) entrepreneurship. B) human capital. C) labor. D) physical capital.