When Economists Expect That a Reward Might Not Occur,they Incorporate

question 6

Multiple Choice

When economists expect that a reward might not occur,they incorporate the uncertainty by multiplying the reward by a ________.

• A) positive factor greater than 1
• B) positive factor less than 1
• C) negative factor greater than ‒1
• D) negative factor less than ‒1

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Definitions:

Deductive Argument

A form of reasoning in which a conclusion is reached based on premises believed to be true, and the conclusion logically follows from these premises.

Brass Section

A subsection within a band or an orchestra comprised of brass instruments such as trumpets, trombones, French horns, and sometimes tubas.

Induction

Induction is a method of reasoning that involves drawing general conclusions from specific observations or instances.

Deduction

The process of reasoning from one or more general premises to reach a logically certain conclusion.