Peter Smith Has Just Won the State Lottery and Has

question 84

Multiple Choice

Peter Smith has just won the state lottery and has the following three payout options for after-tax prize money:
1.$50,000 per year at the end of each of the next six years
2.$300,000 (lump sum) now
3.$510,000 (lump sum) six years from now
The annual discount rate is 9%.Compute the present value of the third option.(Round to nearest whole dollar. )
Present value of $1:

• A)$250,000
• B)$76,667
• C)$79,467
• D)$303,960

Assess the historical development of psychotherapy and its accessibility.

Distinguish between the specialties within the mental health field based on the number of practitioners and their roles.

Understand the importance and methods of ensuring a sample is representative of the population.

Identify the appropriate research method based on the sociological question being investigated.

---

Definitions:

Inferior Good

A type of good for which demand decreases as the income of the consumer increases.

Inferior Good

A type of good whose demand decreases when consumer incomes increase.

Normal Good

An item that sees a rise in desire when the income of buyers increases, and experiences a decline in demand when the income of buyers drops.

Consumer Expectations

Anticipations of future prices, product quality, or available services that influence consumer decisions on spending and saving.