Risk in finance means:
A. Mostly positive outcomes
B. Mostly negative outcomes
C. Either positive or negative outcomes
D. The same thing as risk in health science
C. Either positive or negative outcomes
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If a Lorenz curve for a country's income bows more rightward over time, then the country's
A) income is increasing. B) income is decreasing. C) income is becoming more unequally distributed. D) income is becoming more equally distributed.
From Equation (7.1 ) in the book, the short-run marginal cost of production is MC = w/MPL. Based on this equation, which of the following statements is NOT true?
A) If the marginal product of labor is constant, then MC is constant. B) If the marginal product of labor is a concave curve, then the MC curve is also concave. C) If the marginal product of labor is a concave curve, then the MC curve is U-shaped. D) MC increases as the marginal product of labor declines.