McDonald's Big Macs. Production of this good is likely to fluctuate _______ fluctuations of real GDP during the business cycle.
Fill in the blank(s) with the appropriate word(s).
Ans: less than
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The mean (average) of 5 numbers is 130. If one of the numbers is recorded incorrectly as 59 instead of 95, what would be the correct mean?
A) 126.52 B) 130 C) 137.2 D) 140
A survey of earnings contains an unusually high fraction of individuals who state their weekly earnings in 100s, such as 300, 400, 500, etc. This is an example of
A) errors-in-variables bias. B) sample selection bias. C) simultaneous causality bias. D) companies that typically bargain with workers in 100s of dollars.
Using the expenditure approach, "gross private domestic investment" is the sum of:
a. newly produced capital goods. b. fixed investment. c. changes in business inventories. d. all of these.
The vicious circle of poverty refers to a condition where
a. people are poor because they cannot invest in capital goods and they cannot invest in capital goods because they are poor b. people who borrow money at high interest rates can never get out from under the indebtedness created c. people invest in unprofitable projects and keep pouring loanable funds into those projects in the hope of salvaging them d. people prefer consumption goods to capital goods so there are insufficient capital goods to propel the economy out of poverty e. poverty is relative and poor people remain poor because the wealthy grow wealthier