Economic growth can be illustrated by:
a. a movement along the production possibilities curve
b. a movement from a point on the production possibilities curve to a point inside the production possibilities curve.
c. an inward shift of the production possibilities curve.
d. an outward shift of the production possibilities curve.
d
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Typically a mix of informational and persuasive advertising is used for
A) experience goods. B) credence goods. C) credible goods. D) search goods.
Scatterbrain Samantha often forgets to lock her house. This has caused the probability of a burglary to be 30%. If her house gets broken into, she faces a property loss of $10,000, otherwise she gets to keep her $100,000 . If Samantha is offered full coverage for her house at $1,500, what is her expected wealth with the insurance policy?
a. $80,000 b. $87,000 c. $97,000 d. $98,500