Economists have developed models of risk aversion using the concept of
a. utility and the associated assumption of diminishing marginal utility.
b. utility and the associated assumption of increasing marginal utility.
c. income and the associated assumption of diminishing marginal wealth.
d. income and the associated assumption of increasing marginal wealth.
a
Economics
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If the reserve ratio is designated by "r," the amount of deposits a bank can lend out is equal to [D × (1 - r)]
Indicate whether the statement is true or false
Economics
One of the determinants of real GDP is output per hour of labor. This statistic is called labor
a. force growth. b. productivity. c. force participation. d. force input.
Economics