The gambler's fallacy suggests that what happened in the past will influence the present. This 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
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Which of the following is NOT included in the money supply when the transactions approach is used?
A) currency B) traveler's checks C) money market deposit accounts D) transaction deposits
To maximize the social pie, a tax on pollution must equal the external cost created by the polluting activity
Indicate whether the statement is true or false
In what year was the Bretton Woods system of currency exchange set up?
A) 1912 B) 1924 C) 1944 D) 1969
The Board of Governors of the Fed consists of: a. seven elected members
b. seven members appointed by the president. c. a representative from each of the 12 district banks. d. 12 elected members. e. 12 members appointed by the president.