If rapid population growth reduces the amount of capital per worker, thereby lowering labor productivity, it is referred to as:

Stan, who is risk averse, can invest in project A or project B. Project A returns $3,000 with probability 1/2 and $9,000 with probability 1/2. Project B returns nothing with probability 1/2 and $12,000 with probability 1/2. For Stan, project A has

A) greater expected wealth and greater expected utility than project B. B) lower expected wealth and lower expected utility than project B. C) the same expected wealth and the same expected utility as project B. D) the same expected wealth but higher expected utility than project B.

When buyers will purchase as much as sellers are willing to sell, what is the condition that has to be reached?

a. supply and demand b. excess demand c. price floor d. equilibrium