One inconvenience of commodity money is the need for
A. money to be divisible.
B. uniform quality.
C. portability.
D. All of these responses are correct.
Answer: D
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Beachcomber Beatrice spent her entire wealth of $100,000 to build a beach house on the Gulf of Mexico. There is a 10 percent chance that the house will be destroyed by a hurricane. Beatrice's utility of wealth schedule is given in the table above
What is the maximum amount that Beatrice would be willing to pay for an insurance policy that pays $100,000 if her beach house is destroyed by a hurricane? A) $10,000 B) $30,000 C) $40,000 D) $60,000
The interest income earned on most municipal bonds in the United States is tax exempt. Thus, for such municipalities
A) the level of public investment projects is lower than it would be otherwise. B) municipal tax revenues are higher than they would be otherwise. C) the user cost of cost capital is lower than it would be otherwise. D) All of the above are correct.