According to Expected Utility Theory, People Should Think About Uncertain

question 55

Multiple Choice

According to expected utility theory, people should think about uncertain events in terms of:

• A)the get-got gap
• B)frequencies
• C)gambles
• D)selective thinking
• E)the sunk cost effect

---

Definitions:

Exports

Products or services manufactured in a particular country and purchased by consumers in a different country, adding to the national income of the exporter.

Imports

Products or services that are transported into a country from abroad with the intent of being sold.

International Trade

The trading of products, services, and money across the borders or territories of different countries.

Merchandise Exporting

The act of sending goods produced in one country to be sold in another country.