Suppose that a study is released stating that the fewer speeding tickets a person is issued, the less gasoline they tend to purchase. This is best described as an example of
A. positive correlation.
B. negative correlation.
C. positive causation.
D. negative causation.
Answer: A
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Consider the following:
(i) Suppose labor and capital are complements in production. Explain why a firm's long-run demand for labor is more elastic than its short-run demand. (ii) Suppose labor and capital are substitutes in production. Will the firm's long-run demand for labor still be more elastic than its short-run demand? Why or why not?
Use the data in the table below to answer the following question.PriceQuantity Demanded$201218171620142412301036840644448The price elasticity of demand (based on the midpoint formula) when price decreases from $12 to $10 is
A. inelastic. B. unit elastic. C. elastic. D. perfectly elastic.
Why does investment by multinational corporations not necessarily help to close the foreign exchange gap
What will be an ideal response?
Firms in an economy with high capital costs have an incentive to use more ________ techniques.
A. capital-intensive B. labor-intensive C. labor-saving D. capital-dependent