Government is viewed in the economic way of thinking as many different people interacting on the basis of
A) fear of punishment rather than hope for reward.
B) legal considerations rather than profitability.
C) prevailing property rights.
D) principles of cooperation rather than of competition.
E) regard for the public interest rather than private interest.
C
Economics
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Jon is risk averse. When he buys insurance against all risks, then
A) he knows his wealth with certainty. B) his utility exceeds his expected utility. C) his wealth exceeds his expected wealth. D) all of the above.
Economics
An increase in the money supply in the simple Keynesian model causes
A) income to fall. B) inventories to rise. C) interest rates to fall. D) investment to fall.
Economics