If Cara's Utility Falls More by Losing $600 Than It

question 106

Multiple Choice

If Cara's utility falls more by losing $600 than it rises by gaining $600,she has

• A)increasing marginal utility of wealth and is risk averse.
• B)increasing marginal utility of wealth but is not risk averse.
• C)decreasing marginal utility of wealth and is risk averse.
• D)decreasing marginal utility of wealth but is not risk averse.

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Definitions:

Industrial Workers

Workers employed in industries such as manufacturing, mining, and construction, often involving manual labor or skilled trades.

Economic Independence

A condition where a person, organization, or country can sustain themselves without relying on external financial support.

Populists

Founded in 1892, a group that advocated a variety of reform issues, including free coinage of silver, income tax, postal savings, regulation of railroads, and direct election of U.S. senators.

Bryan

Commonly refers to William Jennings Bryan, an American orator and politician known for his populist views, and his advocacy for free silver, and a three-time Democratic presidential candidate.