The gambler's fallacy:
A. is the belief that if an event has ever occurred, 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.
B. is the belief that once an event has occurred, it is less likely to repeat.
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
The expenditure multiplier arises because one person's additional expenditure becomes another person's additional income that will generate additional
A. cyclical unemployment. B. menu costs. C. expenditure. D. investment demand.
Suppose when the price of pizza goes from $8 to $12 per pie, production increases from 2,500 pies to 4,000 pies per month. Using the mid-point method, the percentage change in price is:
A. 40 percent B. 46 percent C. 1.31 D. 0.35
The use of quarterly data to develop the forecasting model Yt = a +bYt?1 is an example of which forecasting technique?
a. Barometric forecasting b. Time-series forecasting c. Survey and opinion d. Econometric methods based on an understanding of the underlying economic variables involved e. Input-output analysis