Many people fall victim to the gambler’s fallacy, even when they’re not gambling. Which of the following is an example of such a situation?
a. waiting to purchase a car until a dealership holds its annual year-end sale
b. buying a puppy of the same breed as the dog you had growing up because you liked your childhood dog so much
c. expecting that a couple will have a baby boy next because all their other children are girls
d. driving cautiously because you have a perfect driving record that you want to maintain
c. expecting that a couple will have a baby boy next because all their other children are girls
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What were the two main rationale for exempting nonbanks from restrictions on assets and degrees of leverage?
What will be an ideal response?
Refer to the above figures. A tariff is placed on a foreign good. Which figures represents the situation in the domestic market for a competing domestic good?
A) Panel A B) Panel B C) Panel C D) Panel D
If buyers expect future price increase, they will ___________ their purchases while sellers will __________ production
a. Accelerate; accelerate b. Accelerate; delay c. Delay; accelerate d. Delay; delay
A good synonym for elasticity would be
a. stability b. volatility c. stickiness d. demand e. responsiveness