Economists propose several ways to slow the rate of inflation and stimulate the economy. Congressional reaction to two of these measures is sought. It is
Economists propose several ways to slow the rate of inflation and stimulate the economy. Congressional reaction to two of these measures is sought. It is found that 55% of all members of Congress favor a tax cut (T), 30% favor a budget cut (B), and 25% favor both of these measures (B and T). 13.1 If a member of Congress is selected randomly and interviewed, what is the probability that the individual favors a budget cut, given that he or she favors a tax cut? A) 0.45 C) 0.7 B) 0.43 D) 0.3 13.2 If the individual does not favor a budget cut, what is the probability that he or she does favor a tax cut? A) 0.45 C) 0.43 B) 0.7 D) 0.3
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