Assume That the Probability of the Birth of a Child $\frac { 127 } { 128 }$

question 45

Multiple Choice

Assume that the probability of the birth of a child of a particular gender is 50%. In a family with seven children, what is the probability that there is at least one girl?

• A) \(\frac { 127 } { 128 }\)
• B) \(\frac { 59 } { 128 }\)
• C) \(\frac { 3 } { 8 }\)
• D) \(\frac { 3 } { 32 }\)
• E) \(\frac { 43 } { 128 }\)

Understand the impact of government intervention and market forces on production levels.

Identify the concept of externalities, including positive externalities and negative externalities.

Comprehend how taxes and subsidies are used as tools for government to address inefficiencies in the market.

Recognize different types of pollution and their exclusion from the concept of externalities.

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Definitions:

Compounded Annually

Compounded annually refers to the process of calculating interest on both the initial principal and the accumulated interest from previous periods on a yearly basis.

Land Rent

The price paid for the use of land or natural resources, determined by its location, productivity, and competing uses.

Interest Rate

The cost of borrowing money or the return on investment, expressed as a percentage of the amount borrowed or invested.

Labor's Share

The portion of national income or output that is allocated to workers in the form of wages, salaries, and benefits.