The Utility Curve Given Below Represents the Preferences of a _________________

question 91

Multiple Choice

The utility curve given below represents the preferences of a _________________ decision maker.

• A)risk averse
• B)risk neutral
• C)risk seeking

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Definitions:

Nominal GDP

Gross Domestic Product measured at current market prices without adjustment for inflation.

Inflation

The rate of elevation in the uniform prices of goods and services, undermining the capability to buy more.

GDP Deflator

An economic metric that converts output measured at current prices into constant-dollar GDP, detaching price changes from real output changes.

Nominal GDP

Gross Domestic Product measured in current market prices, without adjustment for inflation, reflecting the value of all goods and services produced by an economy in a year.