The gambler's fallacy is
A) true in many games, such as flipping coins.
B) a result of overconfidence.
C) the false belief that past events affect current dependent outcomes.
D) the false belief that past events affect current independent outcomes.
D
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When the price of a good rises from $5 to $7 a unit, the quantity supplied increases from 110 to 130 units a day. The price elasticity of supply is _______. The supply of the good is _______
A. 60; elastic B. 10; elastic C. 0.5; inelastic D. 2; inelastic
Which of the following is true about the distribution of income in the U.S. in the last three decades?
A) For much of this period real wages paid to college graduates have risen significantly. B) Real wages paid to blue-collar workers have grown only slightly. C) There has been a shift in the distribution in income across various segments of the economy, with the real earnings of the richest in America rising to record levels. D) All of the above are true.
Over time, continued budget deficits lead to
a. a higher capital stock and higher productivity. b. a higher capital stock and lower productivity. c. a lower capital stock and higher productivity. d. a lower capital stock and lower productivity.
How many workers would the firm hire if the wage rate were $10?
