The slope of the utility of wealth curve of a risk-averse person
A) increases as wealth increases.
B) decreases as wealth increases.
C) is constant.
D) is negative.
B
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Nations that borrow from abroad to support current investment will
A) always sacrifice future consumption. B) sacrifice future consumption only if the investments are profitable. C) always be better off in the future. D) be better off in the future if the investments are profitable.
Suppose the domestic supply (QS) and demand (QD) for skateboards in the United States is represented by the following set of equations:QS = -60 + 3PQD = 390 - 2PIn the absence of trade with the rest of the world, the consumer surplus in the U.S. skateboard market equals ________ and the producer surplus equals
A. $11,025; $7,350. B. $7,050; $11,525. C. $31,500; $9,450. D. $20,474; $7,350.