If a Person Is Entertained by Gambling,then

question 54

Multiple Choice

If a person is entertained by gambling,then

• A) she is not risk averse.
• B) she does not understand the concept of a fair game.
• C) she may gamble even if it is an unfair game.
• D) she will definitely not buy automobile insurance.

---

Definitions:

Increase Tax Revenue

Strategies or activities undertaken by a government to enhance the amount of money it collects from taxes.

Tax Incidence

Tax Incidence refers to the analysis of the effect of a particular tax on the distribution of economic welfare, showing which group – consumers or producers – ultimately bears the burden of the tax.

Inelastic Supply

Describes a situation where the quantity supplied of a good or service is relatively unresponsive to changes in its price.

Consumers Of Food

Individuals or entities that ingest food products for nourishment and energy.