The price of a typical basket of goods and services in one period divided by the price of the same basket in a different year is a(n)

The index of intra-industry trade is calculated as:

a. the minimum of imports and exports divided by the average of imports and exports. b. the maximum of imports and exports divided by the sum of imports and exports. c. imports divided by exports. d. imports plus exports divided by the average of imports and exports.

Making many risky bets

A) reduces your expected value. B) is called risk-pooling and can reduce risk. C) is irrational. D) is called risk pooling and increases your expected value.