Debbie observes that leaves fall from trees before the fist day of winter, and concludes that the falling leaves cause winter to begin. This is an example of
A. Ockham's razor.
B. the fallacy of logic.
C. ceteris paribus.
D. the post hoc, ergo propter hoc fallacy.
Answer: D
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If the poverty line for a family of 4 is $16,000, then the poverty line for a family of two is likely to be
A. less than $8,000. B. greater than $16,000. C. less than $16,000 but greater than $8,000. D. exactly $8,000.
Macroeconomics emerged as a separate subject largely in response to:
A. Irving Fisher's development of the quantity theory of money. B. Adam Smith's The Wealth of Nations. C. John M. Keynes's explanation of business cycles. D. Alfred Marshall's distinction between the long run and short run.
Discretionary fiscal policy is so named because it:
A. involves specific changes in T and G undertaken expressly for stabilization at the option of Congress. B. is undertaken at the option of the nation's central bank. C. occurs automatically as the nation's level of GDP changes. D. is invoked secretly by the Council of Economic Advisers.
A continuing resolution allows
A. Congress to spend money directly without Presidential signature. B. spending to continue as it has been for a specified period of time. C. spending to continue a program forever. D. spending on Presidential priorities without Congressional approval.