Faced with an uncertain situation, the best decision for a person obeying the von-Neumann Morgenstern axioms:
a. minimizes loss relative to the status quo

Many European countries, such as Italy and Spain, have:

A. less unemployment than the United States, but with a greater percentage of that unemployment in the form of long-term unemployment. B. more unemployment than the United States, but with a smaller percentage of that unemployment in the form of long-term unemployment. C. more unemployment than the U.S., with a greater percentage of that unemployment in the form of long-term unemployment. D. less unemployment than the United States, with a smaller percentage of that unemployment in the form of long-term unemployment.

The ultimate source of liquidity in a modern industrial economy is the

A) government Treasury. B) central bank. C) capital market. D) liquidity market.