A risk-averse individual has
A) an increasing marginal utility of income.
B) an increasing marginal utility of risk.
C) a diminishing marginal utility of income.
D) a diminishing marginal utility of risk.
E) a constant marginal utility of income, but a diminishing marginal utility of risk.
C
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Refer to Figure 11-3. Which of the following would cause an economy to move from a point like A in the figure above to a point like B?
A) a technological regression B) a decrease in capital per hour worked C) an increase in capital per hour worked D) an improvement in technology
A record of all transactions between residents of the reporting country and residents of the rest of the world over a period of time is called the:
A) national income product accounts. B) balance of payments accounting system. C) accrual accounting system. D) none of the above.