Gabby flips a fair coin and it shows heads. When trying to guess what the coin will show on the next flip, Gabby guesses heads because she thinks it is more likely to occur than tails since the coin showed heads on the last flip. Gabby suffers from the:
A. gambler's fallacy.
B. gambler's myth.
C. hot-hand fallacy.
D. hot potato fallacy.
C. hot-hand fallacy.
Economics
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Use a simple mathematical expression consisting only of the measures of the major categories to describe how GDP is estimated.
What will be an ideal response?
Economics
Refer to the table above. At what rate did the country grow between 2006 and 2007?
A) 13.63% B) 17.47% C) 15.55% D) 19.24%
Economics
The multiplier increases as the MPC increases
Indicate whether the statement is true or false
Economics
Refer to the figure above. If the government sets the minimum wage rate at $35, the unemployment in the market will be:
A) 20 units of labor. B) 25 units of labor. C) 15 units of labor. D) 10 units of labor.
Economics