Identify the cause and the effect in the following examples:
a. Lower infant mortality and an improvement in nutrition
b. A surge in cocoa prices and a pest attack on the cocoa crop that year
a. An increase in nutrition is likely to lead to or cause lower infant mortality.
b. The pest attack is likely to have reduced the cocoa crop, leading to a rise in prices.
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Suppose that the latest Consumer Price Index (CPI) release shows a higher inflation rate in the U.S. than was expected. Everything else held constant, the release of the CPI report would immediately cause the demand for U.S
assets to ________ and the U.S. dollar would ________. A) increase; appreciate B) increase; depreciate C) decrease; appreciate D) decrease; depreciate
If we observe a great deal more advertising for Mucinex, an over-the-counter drug, than for a Grainger drill press, we can infer that
a. more money is spent on Mucinex than on Grainger drill presses. b. the market for Mucinex is more highly differentiated than the market for Grainger drill presses. c. Grainger has lower costs of production than Mucinex. d. Mucinex operates in an oligopoly, while Grainger operates in a monopolistically competitive market.
Which of the following is true?
A) Entrepreneurs generally save less of their income than other Americans. B) If you want to make a lot of money, you had better figure out how to provide others with substantial value and find ways to discover and act on strategic opportunities. C) Additional years of schooling will substantially increase your earnings even if they fail to increase your productivity and ability to provide others with things that they value. D) Most entrepreneurs work very few hours.
If the price of film increases at the same time the cost of camera production increases, what will happen to the equilibrium price and quantity in the camera market?
A) Price will increase, quantity will decrease B) Price will increase, quantity will increase C) Price will decrease, quantity will decrease D) Price will decrease, quantity will increase E) The new equilibrium price and quantity cannot be determined