Use the Following to Answer Questions

question 190

Multiple Choice

Use the following to answer questions:
Scenario: Flood Area
Suppose you own a home that is estimated to be worth $250,000. You live in a flood plain; as a result, the probability that you will lose your home to a flood is 30%.
-(Scenario: Flood Area) Look at the scenario Flood Area. A flood may occur, causing you to lose your entire home. In this case, your expected loss resulting from the flood would be:

• A) $250,000.
• B) $75,000.
• C) $15,000.
• D) $100,000.

---

Definitions:

Union Membership

Individuals who belong to a union, an organization formed for the purpose of representing its members' interests in various employment matters.

Labor Force

The total number of people who are eligible, willing, and able to work, including both the employed and the unemployed.

Union Membership

The state of being a member of an organized group of workers who come together to make decisions about the work environment.

Highest Level

The maximum or most advanced stage of development or achievement in a particular area.