An economist estimates that casinos in California net $6 billion each year. Assume that overall the casinos take in 4.25% of the money wagered. How much money was bet in California last year?
A)$141 billion
B)$26 billion
C)$71 billion
D)$165 billion

Question

Quizplus · Accepted Answer

To find the total amount wagered, divide the net income by the percentage taken in. $6 billion / 0.0425 = $141.18 billion, which rounds to $141 billion.

An Economist Estimates That Casinos in California Net $6 Billion