Author Question: For a risk-averse individual, as wealth increases, total utility ________ and marginal utility ... (Read 97 times)

skymedlock

  • Hero Member
  • *****
  • Posts: 561
For a risk-averse individual, as wealth increases, total utility ________ and marginal utility ________.
 
  A) increases; increases
  B) increases; decreases
  C) decreases; increases
  D) decreases; decreases

Question 2

What is purchasing power parity?
 
  What will be an ideal response?



Chou

  • Sr. Member
  • ****
  • Posts: 335
Answer to Question 1

B

Answer to Question 2

Purchasing power parity means equal value of money, that is, the exchange rate adjusts so that one currency can buy the same amount of goods and services as another currency.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

Did you know?

The effects of organophosphate poisoning are referred to by using the abbreviations “SLUD” or “SLUDGE,” It stands for: salivation, lacrimation, urination, defecation, GI upset, and emesis.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

For a complete list of videos, visit our video library