Assume that you assign the following subjective probabilities for your final grade in your econometrics course (the standard GPA scale of 4 = A to 0 = F applies): Grade Probability A 0.20 B 0.50 C 0.20 D 0.08 F 0.02 The expected value is:

Over the past year price inflation has been 10%, but the price of a used Ford Escort has fallen from $6,000 to $5,000. The real price of a Ford Escort has fallen by:

A) 12%. B) 17% C) 20%. D) 24% E) 32%.

The slope of a line parallel to the vertical axis is:

a. 1. b. 0. c. infinite. d. undefined.