How Many U.S. Older Adults Are Widows

question 69

Multiple Choice

How many U.S. older adults are widows?

• A) About 10%
• B) About 25%
• C) About 33%
• D) About 50%

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Definitions:

Von Neuman-Morgenstern

Refers to the theory of expected utility, formulated by John von Neumann and Oskar Morgenstern, which addresses choices made under conditions of risk.

Expected Utility Function

A mathematical expression that represents a consumer's preference for uncertain outcomes, weighting each outcome by its probability of occurrence.

Von Neuman-Morgenstern Utility Function

A utility function that accounts for the existence of risk and uncertainty, allowing for the calculation of expected utility.

Wealth

The total value of all assets owned by an individual, community, company, or country, minus any liabilities.