A Multiple-Choice Test Consists of fiVe Questions, Each with A-E

question 73

Multiple Choice

A multiple-choice test consists of five questions, each with A-E answers. If you guess the answer to
Each question, what is the probability of getting four or more questions correct?

• A) 5.1%
• B) 6.4%
• C) 0.032%
• D) Less than 1%

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Definitions:

Military Spending

Financial allocation by a government for the maintenance and operation of armed forces, including expenses related to salaries, equipment, training, and facilities.

Automatic Stabilizer

Economic policies and programs designed to offset fluctuations in a nation's economic activity without additional government action, such as progressive tax rates and unemployment benefits.

Government Purchases

Expenditures by government bodies on goods and services that directly absorb resources or services and are part of government consumption expenditure and gross investment.

Net Taxes

The difference between the total amount of taxes collected by the government and any transfers or subsidies it pays out.