Nick Has Two Job Offers, One as a Financial Planner

question 187

Multiple Choice

Nick has two job offers, one as a financial planner and one as an economist for a regional bank. The income that Nick would expect to earn as a financial planner depends how effective he is in getting clients. He estimates that he would receive either $80,000 and a utility of 75, with a probability of .50, or he would earn $30,000 and a utility of 35, with a probability of .50. The economist job would pay $45,000 per year and has a utility of 55. The expected income as a financial planner is ________ and as an economist is ________.

• A) $60,000; $45,000
• B) 55; 55
• C) $80,000 and $30,000; $45,000
• D) $55,000; $45,000

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Definitions:

Catholic Church

The Catholic Church is a global religious institution that follows the teachings of Jesus Christ, grounded in the tradition of Roman Catholicism and led by the Pope in Vatican City.

New World

A term historically used to refer to the Americas, representing lands in the Western Hemisphere discovered by European explorers, contrasting with the Old World (Europe, Asia, and Africa).

Revitalization Movement

Social movements aimed at constructing a more satisfying culture, often in response to perceived oppression or cultural disruption.

United States

A country in North America composed of 50 states, a federal district, five major self-governing territories, and various possessions.