Individuals who face greater risks
a. are more likely to purchase insurance
b. are less likely to purchase insurance
c. are neither more nor less likely to purchase insurance
d. are risk neutral
a
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Suppose Country A had net taxes of $30 million and government expenditures of $35 million. In addition, household saving in Country A totaled $5 million while consumption was $80 million
The government of Country A is running a budget ________ and national saving is ________ million. A) surplus; $5 B) deficit; -$5 C) deficit; $0 D) surplus; $25
If a country has a comparative advantage in the production of a good:
A) it can produce that good at a lower opportunity cost. B) it will find trade most beneficial when it trades with another country that has a comparative advantage in the same good. C) it will not find trade beneficial because other country(ies) won't have a comparative advantage in other goods. D) it must also have an absolute advantage in the good.