John's Utility from an Additional Dollar Increases More When He

question 34

Multiple Choice

John's utility from an additional dollar increases more when he has $1,000 than when he has $10,000.From this,we can conclude that John

• A) is risk averse.
• B) is risk loving.
• C) is risk neutral.
• D) has a negative marginal utility of wealth.

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Business Cycle

The fluctuations in economic activity that an economy experiences over a period of time, marked by periods of expansion and recession.

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Degrading Environment

The process of decline in the quality, health, or vibrancy of the natural environment due to factors such as pollution, deforestation, and climate change.

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The act of riding a bicycle, a human-powered, pedal-driven vehicle with two wheels attached to a frame.