If an event has two possible outcomes, A and B, and the probability of event A occurring is 0.30, the probability of event B occurring is ________.
A) 1.00
B) 0.20
C) 0.30
D) 0.70
D) 0.70
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A balance-of-payments surplus for the United States can be corrected by
A. Increasing quotas on foreign goods. B. Increasing U.S. taxes. C. Subsidizing U.S. exports. D. Reducing tariffs on foreign goods.
How does the imposition of a tariff reduce the price of imports?
A. At the lower quantity supplied, the price to the importer is lower than if there were free trade. B. At the lower quantity demanded, the price to the importer is lower than if there were free trade. C. Supply of the product is increased from domestic production, reducing the price of the imports. D. Demand for the product is decreased, so that price must fall.
During an expansion, automatic stabilizers cause the federal deficit to
A. increase. B. either increase or decrease. C. remain unchanged. D. decrease.
Government spending rising during a recession is an example of
A. policy lags. B. an automatic stabilizer. C. an automatic destabilizer. D. discretionary economic policy.