Although he is very poor, Al plays the million-dollar lottery everyday because he is certain that one day he will win. Al makes this calculation based upon
A) the frequency of past outcomes.
B) subjective probability.
C) knowledge of all possible outcomes.
D) tossing a coin.
B
Economics
You might also like to view...
Suppose households unexpectedly increase consumption. Which of the following will occur as a result of this unexpected increase in consumption?
A) an increase in stock prices B) a reduction in stock prices C) no change in stock prices D) an ambiguous effect on stock prices
Economics
Which of the following best defines the IS curve?
A) the combinations of i and Y that maintain equilibrium in the goods market B) illustrates the effects of changes in i on investment C) illustrates the effects of changes in i on desired money holdings by individuals D) the combinations of i and Y that maintain equilibrium in financial markets
Economics