The gambler's fallacy suggests that what happened in the past will influence the present. Suffering from the gambler's fallacy is most likely TRUE in which of the following situations?
A) flipping cards from a single deck
B) tossing a fair coin
C) the quality of play of a baseball team
D) horse racing
B
Economics
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Unemployment is a ________ concept, measuring the ________
A) stock; number of people who are not working B) stock; number of people at a point in time who are not working but who are looking for work C) flow; number of people who are first entering the labor force D) flow; number of people who lost their jobs within the last week
Economics
Refer to the table above. When the price is ________ and the quantity is ________, social surplus is maximized
A) $8; 5 units B) $6; 4 units C) $4; 4 units D) $2; 8 units
Economics