Suppose Jack and Kate are at the town fair and are choosing which game to play. The first game has a bag with four marbles in it-1 red marble and 3 blue ones. The player draws one marble from the bag; if it is red, they win $20 and if it is blue, they win $1. The second game has a bag with 10 marbles in it-1 red, 4 blue, and 5 green. The player draws one marble from the bag; if it is red, they win $20; if it is blue, they win $5; and if it is green, they win $1. Both games cost $5 to play. What is the probability of drawing a red marble in each game?
A. 10 percent in both games
B. 10 percent in the first game and 25 percent in the second game
C. 25 percent in the first game and 10 percent in the second game
D. 25 percent in both games
C. 25 percent in the first game and 10 percent in the second game
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In comparison to a government that runs a balanced budget, when the government runs a budget deficit
A) the equilibrium interest rate will fall. B) business investment will fall. C) household savings will fall. D) none of the above
Answer the next question on the basis of the following five schedules, all of which represent income tax schedules for an economy. All figures are in billions of dollars.IIIIIIIVVTaxBase (Income)TaxBase (Income)TaxBase (Income)TaxBase (Income)TaxBase (Income)$30$100$10$100$5$100$30$100$10$10050200202001520060200302006030030300303009030060300704004040050400120400100400Which of the above schedules represent(s) a progressive tax?
A. III and V B. III only C. II and III D. V only