Consider the Following Scenario When Answering the Following Questions

question 144

Multiple Choice

Consider the following scenario when answering the following questions:
Imagine a game show on television where one lucky contestant is presented with four upside-down buckets that are numbered 1,2,3,and 4.Under one of the buckets is exactly one $100 bill.Under each of the other three buckets is exactly one $5 bill.After the game ends,the contestant will receive the amount of money that is under his or her bucket.
The host of the game show asks the contestant to choose one of the four buckets.After the contestant makes a choice,the host lifts up two of the remaining three buckets to reveal a $5 bill under each of them.At this point,only two buckets remain uncovered: the bucket that the contestant originally chose and the bucket that was not uncovered by the host.
The host subsequently asks the contestant if he or she would like to keep the original bucket or change buckets to the only other bucket remaining.
-In the context of behavioral economics,the belief that outcomes that have not occurred in the recent past are ________ likely to occur soon,and that recent outcomes are ________ to be repeated in the near future is best referred to as the gambler's fallacy.

• A) more; likely
• B) more; unlikely
• C) less; likely
• D) less; unlikely
• E) less; never going

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Definitions:

Amygdala

A part of the brain within the temporal lobe that is involved in emotions, decision-making, and memory processing, notably in fear and pleasure responses.

Components of Happiness

The various elements that contribute to an individual’s sense of well-being and satisfaction with life, such as emotional, psychological, and social well-being.

Acknowledged

Recognized as being true or existing, especially in a formal or official way.

Positive Psychologist

A psychologist who focuses on studying and promoting factors that allow individuals and communities to thrive.