At a carnival roulette wheel, a player can either win $10, $30, or $80 . If it costs $20 to play, should the player expect the game to be fair?
a. Yes, because it costs to play
b. No, because on average the individual would be earning money on the wheel
c. No, because all the carnival attractions are unfair
d. Need more information
b
Economics
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If countries do not engage in international trade:
A) they give up the ability to specialize in production. B) worldwide levels of production are lower. C) the world will be operating inside its production possibilities curve. D) all of the above are true.
Economics
Which of the following events occur when fiscal expansion is used without accommodating monetary policy?
A) Total government spending increases (or net taxes decrease). B) Total private induced spending increases. C) Private induced spending decreases. D) A and B are both correct.
Economics