Although he is very poor, Al plays the million-dollar lottery every day because he is certain that one day he will win. Al makes this calculation based upon
A) the frequency of past outcomes.
B) subjective probability.
C) knowledge of all possible outcomes.
D) tossing a coin.
B
Economics
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Would the housing industry be characterized as an increasing, decreasing or a constant-cost industry? Explain your position
What will be an ideal response?
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Refer to Table 23-4. Given the consumption schedule in the table above, the marginal propensity to save is
A) 0.3. B) 0.4. C) 0.5. D) 0.6.
Economics