When Someone Wins a Lottery Jackpot They Are Often Given

question 123

Multiple Choice

When someone wins a lottery jackpot they are often given the choice between receiving their winnings over some period of time or receiving less money but receiving it all at once. It makes the most economic sense to receive

• A)the money over time because the amount received will be greater.
• B)the reduced amount of money in one lump sum because it is always better to have money sooner rather than later.
• C)whichever option yields the greatest present value.
• D)whichever option yields the lowest present value.

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Definitions:

Trait Approach

A way of studying personality that focuses on the measurement of individual traits, which are consistent patterns of thought, feeling, and behavior.

Personality

The combination of characteristics or qualities that form an individual's distinctive character and determine how they interact with the environment and others.

Advantages

The favorable factors or benefits that contribute to someone's success in competition or comparison with others.

Big Five Factors

A model outlining five broad dimensions used to describe human personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.