The hot-hand fallacy:
A. is the belief that once an event has occurred several times in a row, it is less likely to repeat.
B. is the belief that once an event has occurred, it is less likely to repeat.
C. is the belief that once an event has occurred several times in a row, it is more likely to repeat.
D. is the belief that if an event has never occurred, it is more likely to occur.
C. is the belief that once an event has occurred several times in a row, it is more likely to repeat.
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When measuring GDP,
A) the government sector is not included because it is the public sector not the private sector. B) the government sector is counted, and the value of the government sector in GDP is equal to its tax revenue. C) only the federal government's expenditure on goods and services are included. D) the expenditure on goods and services by all levels of government are included. E) the government sector is not counted because it does not produce goods and services.
Craft unions attempt to increase wages in their profession by
a. increasing labor demand b. decreasing labor demand c. decreasing labor supply d. increasing labor supply e. exclusive dealing contracts
According to Environment Canada, the cornerstone of the Canadian Environmental Protection Act (CEPA) of 1999 is
a. reuse and recycling b. safe disposal of hazardous wastes c. environmental labeling d. pollution prevention
If we assume that the income elasticity of demand for food has been around 0.2 and that agricultural producers have become increasingly more productive, we can conclude that
A) prices of food have increased. B) supply increases have been less than demand decreases. C) as consumers' real incomes have been increasing over the years, they have been spending absolutely less on food. D) prices of food have been stable. E) none of the above