Bobby is offered two fulltime jobs. In the first job, as a salesperson, he has a 50 percent chance to make $2,000 a month and a 50 percent chance to make $10,000 a month. The second job, as a construction worker, pays $4,500 a month with certainty
Bobby's utility of wealth curve is shown in the figure above. Bobby will take the ________ job because his expected ________ from this job is greater. A) first; utility
B) second; utility
C) second; income
D) first; income
B
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Which two time periods did the U.S. begin to experience a sharp increase in Current Account deficits?
A) 1981, mid-1990s B) 1971, mid-1990s C) 1961, mid-1990s D) 1971, mid-1980s E) 1985, mid-1990s
When a prisoners' dilemma game is repeated a finite number of times (T)
A) cooperation unravels during the first round of the game, resulting in the static game Nash equilibrium. B) cooperation continues until the T-2 round, where the players will switch to a non-cooperative Nash equilibrium. C) firms cooperate and achieve the collusive Nash equilibrium for all rounds. D) None of the above.