Which of the following games involving the roll of a single die is a fair bet?
A) Bet $1 and receive $1 if 3 or 4 comes up.
B) Bet $1 and receive $1 if 3, 4, or 5 comes up.
C) Bet $1 and receive $4 if 6 comes up.
D) None of the bets is a fair bet.
B
You might also like to view...
When a farmer decides to raise hogs instead of cattle, the farmer is answering the ________ part of one of the two big economic questions
A) "what" B) "for whom" C) "how" D) "why"
Working efficiently, Jordan can write 3 essays and outline 4 chapters each week. It must be true that:
A. 6 essays and 0 chapter outlines would be unattainable. B. 3 essays and 5 chapter outlines would be unattainable. C. 2 essays and 3 chapter outlines would be efficient. D. 4 essays and 3 chapter outlines would be both attainable and efficient.
Assume a country agrees to a free-trade act with another country. In the process, some individuals are displaced from their jobs, thus the free-trade act results in a negative externality
A) False B) True C) Only if those who were displaced are not compensated with another job or income transfer. D) Only if those who were displaced were compensated with another job or income transfer.
Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher