If a Stream Has a 1% Annual Probability of Flooding

question 87

Multiple Choice

If a stream has a 1% annual probability of flooding, what is the probability that it will flood sometime during a 100-year period?

• A)1%
• B)50%
• C)75%
• D)100%

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Definitions:

Centrally Planned Economies

Economic models in which all decisions about what to produce and how to distribute goods and services are made by the government or a central body.

Resource Allocation

The process of assigning and distributing available resources to various uses in the most efficient way.

Innovation

The process of creating new products, processes, or ideas that bring value to society, businesses, or individuals.

Central Planning

An economic system where the government makes all decisions on the production and allocation of goods and services.