Suppose a lottery ticket costs $1and has a jackpot of $1 million. What must the probability of winning nothing be if the bet is fair?

What are the long-run effects on productivity and income of an increase in the saving rate?

Which of the following is the behavior of a rational consumer?

a. to seek to maximize his or her own total utility b. to purchase a good until marginal utility falls to zero c. to match his or her personal utility to that of all other consumers d. to maximize the variety of goods he or she purchases