When Jack Whittaker Won Over $300 Million in a Powerball

question 30

Multiple Choice

When Jack Whittaker won over $300 million in a Powerball jackpot, many people thought his life would be transformed for the better.Within a few years, he was divorced, had lost his granddaughter to a drug overdose, was robbed outside a strip club, had lawsuits brought against him for sexual harassment, and encountered numerous other well-publicised problems.Based on the idea of the hedonic treadmill, how would you interpret this?

• A)Whittaker's life had been plagued with problems before his win and, after a period of positive events, it simply returned to its usual state.
• B)Whittaker was surrounded by negative people who, as a result of his win, tried to derail his happiness.
• C)Whittaker was only happy when his life was chaotic, so he deliberately sabotaged his own good fortune.
• D)Whittaker was very happy prior to the lottery win and, when winning did not make him even happier, he became depressed.

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Definitions:

Conceptually Equivalent

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A graph that illustrates how a firm's total revenue changes as the quantity of goods sold changes, holding the price per unit constant.