Suppose a family has saved enough for a 10 day vacation (the only one they will be able to take for 10 years) and has a utility function U = V1/2 (where V is the number of healthy vacation days they experience). Suppose they are not a particularly healthy family and the probability that someone will have a vacation ruining illness (V = 0) is 30%. What is the expected value of V?

a. 10
b. 7
c. 3
d. 0

b

Economics

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In the above table, the unemployment rate is

A) 6 percent. B) 24 percent. C) 18 percent. D) 29 percent.

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The value at which one currency can be exchanged for another currency is called the real exchange rate

Indicate whether the statement is true or false

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