If Walter Has One Hour of Leisure Time in Which

question 471

Multiple Choice

If Walter has one hour of leisure time in which to watch a sporting event on television, his preferences are as follows: Walter prefers watching football to watching baseball, but he prefers watching baseball to watching basketball. He is indifferent between watching baseball and watching hockey. Bundle A contains one hour of football and zero hours of all other sports. Bundle B contains one hour of baseball and zero hours of all other sports. Bundle C contains one hour of basketball and zero hours of all other sports. Bundle D contains one hour of hockey and zero hours of all other sports. If we were to graph Walter's preferences using indifference curves, which of the following bundles would be on the same indifference curve?

• A)A, B, and C only
• B)B and D only
• C)A and D only
• D)There is no combination of the sports that could be drawn on the same indifference curve.

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Definitions:

Frequency

Number of participants in a sample corresponding to a value of a variable.

Simulation

A training method that represents a real-life situation, with trainees making decisions resulting in outcomes that mirror what would happen on the job.

Apprenticeship

A method of instructing a new wave of professionals in a specific trade or profession through practical, on-the-job training complemented by some theoretical study.

Cross-training

The process of training employees to perform multiple roles or tasks beyond their original job function, enhancing flexibility and workforce adaptability.