For a risk averse person, the marginal utility of wealth
A) decreases as wealth increases.
B) increases as wealth increases.
C) decreases as wealth decreases.
D) remains constant as wealth increases.
A
Economics
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Using the notation Pt to designate this period's price level and Pt-1 to designate last period's price level, the formula for measuring the inflation rate from last period to this period is
A) [(Pt - Pt - 1 ) / Pt] × 100. B) [(Pt -1 - Pt) / Pt - 1] × 100. C) [(Pt - Pt - 1 ) / Pt - 1] × 100. D) [(Pt -1 - Pt) / Pt] × 100.
Economics
The income that measures a household's earnings in the absence of government redistribution is called
A) market income. B) real income. C) money income. D) cash income.
Economics