Scenario 5.6: Consider the Information in the Table Below, Describing Choices for Choices

question 136

Multiple Choice

Scenario 5.6:
Consider the information in the table below, describing choices for a new doctor. The outcomes represent different macroeconomic environments, which the individual cannot predict.

-Refer to Scenario 5.6. If the doctor is risk-averse, she would accept:

• A) $50,000 for sure rather than take the risk of being a researcher.
• B) $60,000 for sure (the minimum HMO outcome) rather than take the risk of being a researcher.
• C) $95,000 for sure rather than face option 1 and option 2 in research.
• D) $275,000 for sure (the average of option 1 and option 2 in research), but not less, rather than face the risk of those two options.
• E) the research position because it has the highest possible income.

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Definitions:

Femininity

A cultural dimension that values traits traditionally associated with female roles, such as caregiving, community, and quality of life.

Long-Term Orientation

A cultural value that emphasizes the virtues of planning for the future and delaying gratification.

Individualism

A theory in sociology that prioritizes individual autonomy over the control of groups or government.

Cultural Value

The shared beliefs, norms, and practices that are significant within a specific culture, influencing behaviors, attitudes, and perceptions.