The terms “correlation” and “causation” are synonymous.
Answer the following statement true (T) or false (F)
False
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Fatz Confectionery is a candy company that operates at the risk of unlimited liability for its many owner in case, for instance, all of its former employees win a class action lawsuit because of "sugar-lung" developed over decades of working the
Thus Fatz is a A) proprietorship. B) partnership. C) either of the above. D) neither of the above.
Which of the following would cause a decrease in the price of a good?
A) an increasing shift in the supply of a good and no shift in demand B) a decreasing shift in the supply of a good and no shift in demand C) an increasing shift in the demand for good and no shift in supply D) an increasing shift in the demand for good and a decreasing shift in supply
"To each exactly the same" refers to
A) the productivity standard. B) the free market doctrine. C) the egalitarian principle. D) the Lorenz curve.
Amanda, age 6, opens a lemonade stand. She makes all the lemonade from a mix she found in her parents' pantry. Her stand is an old box she found in the garage. The pitcher and paper cups were taken from the kitchen. Which of the following is true?
a. The opportunity cost of the lemonade is zero. b. The only opportunity cost of the lemonade is Amanda's time. c. Amanda's explicit costs are zero. d. The implicit costs of Amanda's lemonade are zero. e. Whatever revenue Amanda gets will be pure economic profit.