What is the difference if any between an individual gambling at a casino and gambling by buying a stock? What is the difference for society? For an individual, gambling at a casino or by buying a stock A. is the same because they have the same expected values. B. is the same insofar that both involve uncertain outcomes C. different because the expected value of gambling in a casino is higher. 2. For society, gambling at a casino or by buying a stock A. is the same because neither redistribute income. B. is different because buying a stock more directly provides capital for companies to make productive investments. C. is the same because both have no effect on the budget deficit.
What is the difference if any between an individual gambling at a casino and gambling by buying a stock? What is the difference for society? For an individual, gambling at a casino or by buying a stock A. is the same because they have the same expected values. B. is the same insofar that both involve uncertain outcomes C. different because the expected value of gambling in a casino is higher. 2. For society, gambling at a casino or by buying a stock A. is the same because neither redistribute income. B. is different because buying a stock more directly provides capital for companies to make productive investments. C. is the same because both have no effect on the budget deficit.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
What is the difference if any between an individual gambling at a casino and gambling by buying a stock? What is the difference for society?
For an individual, gambling at a casino or by buying a stock
A. is the same because they have the same expected values.
B. is the same insofar that both involve uncertain outcomes
C. different because the expected value of gambling in a casino is higher.
2. For society, gambling at a casino or by buying a stock
A. is the same because neither redistribute income.
B. is different because buying a stock more directly provides capital for companies to make productive investments.
C. is the same because both have no effect on the budget deficit.
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