The supply curve of labor to a monopsonist is
A) upward sloping.
B) downward sloping because of the law of diminishing marginal returns.
C) downward sloping, but not because of the law of diminishing marginal returns.
D) horizontal.
Answer: A
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Which of the following statements best describes the relationship between risk and the average expected return of investments?
A. Less risky assets will have similar average expected rates of return to more risky assets B. Less risky assets will have higher average expected rates of return than more risky assets C. More risky assets will have higher average expected rates of return than less risky assets D. More risky assets will have lower average expected rates of return than less risky assets
Modern economists measure how much utility Fred gets from a hot dog by
A. asking Fred how many utils he gets from its consumption. B. examining the price of the hamburger Fred chose not to buy. C. asking Fred how much of some other good he would give up to get the hot dog. The “other good” can be any good except money. D. asking Fred how much of some other good he would give up to get the hot dog. The “other good” can be any good, including money.