A "Hungry" Undergraduate Student Was Looking for a Way of Making

question 4

Multiple Choice

A "hungry" undergraduate student was looking for a way of making some extra money. The student turned to a life of vice - gambling. To be a good gambler, he needed to know the probability of certain events. Help him out by answering the following question. The probability of rolling "boxcars" (two sixes) with one roll of a pair of fair dice is _________.

• A) 0.167
• B) 0.333
• C) 0.033
• D) 0.028

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Definitions:

Recognition Lag

The time it takes for policymakers to identify an economic issue or trend that requires intervention.

Active Policy

Economic strategies and measures actively implemented by a government to influence the economy, such as adjusting tax rates or spending.

Decision-making Lag

The delay between recognizing an economic issue and implementing policy actions to address it.

Recognition Lag

The time delay between when an economic problem arises and when it is officially recognized.