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For Each of the Following Statements,state Whether the Statement Is

Question 103

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For each of the following statements,state whether the statement is true,false,or uncertain and explain why

Premises:
A risk-loving person will accept any gamble.
A risk neutral person is indifferent to a gamble and the expected value of the gamble.
A risk-averse person will never accept a gamble.
Responses:
False
True

Correct Answer:

A risk-loving person will accept any gamble.
A risk neutral person is indifferent to a gamble and the expected value of the gamble.
A risk-averse person will never accept a gamble.
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