Suppose It Is Certain That an Earthquake Will Occur Some-Day

question 94

Short Answer

Suppose it is certain that an earthquake will occur some-day. What is the probability (to the nearest percent) that it will occur while you are at work? Assume you are at work 6 hours per day, 260 days per year.
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The probability is __________%.

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Definitions:

Price Level

A measure of the average prices of goods and services in an economy at a given time period.

Real Wealth

The value of an individual's or entity's assets, taking into account the effects of inflation on purchasing power.

Liquidity Preference

The desire to hold cash or easily convertible assets rather than investments that might be harder to convert into cash.

Interest Rate

The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets.