If a person willingly plays an unfair game that is NOT in his favor, he is risk loving
Indicate whether the statement is true or false
False. While that could be the reason, there are others. Either the person likes gambling for entertainment reasons, or the person does not understand the probabilities associated with each payout.
You might also like to view...
Which of the following is a reason why the growth rates of high-income countries can be lower than that of low-income countries?
a. In high-income countries, the invention of new technology is difficult, expensive, and time consuming. b. In high-income countries, the invention of new technology is subject to diminishing marginal returns. c. In high-income countries, the marginal cost of production increases as output increases. d. In high-income countries, the average cost of production increases as output increases.
The "time-value of money" refers to the fact that:
A. a given amount of money becomes more valuable over time. B. a given amount of money is more valuable the sooner it is obtained. C. people expect monetary compensation for their labor time. D. a given amount of money today is equivalent to a smaller amount of money in the future.