John's utility of wealth curve is shown in the above figure. He currently has wealth of $20,000. If there is a 10 percent chance of losing all his wealth, what is the value of insurance against this loss?

Contractionary monetary policy on the part of the Fed results in

A) an increase in the money supply, a decrease in interest rates, and an increase in GDP. B) a decrease in the money supply, an increase in interest rates, and a decrease in GDP. C) a decrease in the money supply, a decrease in interest rates, and a decrease in GDP. D) an increase in the money supply, an increase in interest rates, and an increase in GDP.

The trade-to-GDP ratio for the United States reached its lowest point of the last 100 years

A) around 1970. B) around World War II. C) around World War I. D) around 2008.