On Deductive Arguments. -If an Argument Has Premises That Are Certain to Be

question 210

True/False

On deductive arguments.
-If an argument has premises that are certain to be true and a conclusion that is certain to be true, then the argument must be valid.

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Definitions:

Utility Function

An economic model that quantifies the satisfaction or happiness a consumer receives from consuming goods and services.

Expected Utility

A theory in economics that models how agents choose among risky alternatives to maximize their satisfaction.

Income

Receipts garnered on a habitual basis as a result of engaging in work or investment.

Von Neumann-Morgenstern

A theory of expected utility which provides axioms for how rational individuals make decisions under uncertainty.