Which of the Following Predictions Cannot Be Described by a Binary

question 31

Multiple Choice

Which of the following predictions cannot be described by a binary choice model?

• A) Predict the ability to swim through the English Channel.
• B) Predict the chances of a candidate winning the next presidential election.
• C) Predict today's number of cars crossing the Golden Gate Bridge.
• D) Predict the occurrence of a hurricane in Florida next year.

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Definitions:

Price Floors

Minimum prices set by the government for certain goods and services, aimed at preventing prices from dropping too low.

Distorted

Refers to a situation where economic actions or outcomes are twisted or skewed due to various factors, such as government intervention or market anomalies.

Rationing

The controlled distribution of scarce resources, goods, or services, often implemented during shortages to ensure equitable distribution among all individuals.

Government Issued

Refers to products or securities that are provided or sanctioned by a government body, such as bonds or legal tender.