As Javier hit a baseball with his bat, the bat cracked. This example shows ______.
a. composition, but not causation
b. causation, but not correlation
c. correlation and composition
d. correlation and causation
d. correlation and causation
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Which of the following is a statement of positive economics? a. New tax laws are needed to help the poor
b. Teenage unemployment should be reduced. c. We should increase Social Security payments to the elderly. d. An increase in tax rates will reduce unemployment.
Which of the following statements is true?
A. The ECB's success in controlling reserves by paying interest on them has led the Fed to do the same. B. The Fed's redesign of its procedures for lending to banks was the model for the ECB's marginal lending facility. C. The ECB's marginal lending facility was the model for the Fed's redesign of its procedures for lending to banks. D. The ECB's weekly auctions include only a few of the largest banks in Europe.
Which value is higher? a) $1,000 today or b) $10,000 in 20 years if the interest rate is 12%.
What will be an ideal response?
Positive technological change in the production of LCD televisions caused the price of LCD televisions to fall. Holding everything else constant, how would this affect the market for Blu-ray players (a complement to LCD televisions)?
A) The demand for Blu-ray players would increase and the equilibrium price of Blu-ray players would decrease. B) The demand for Blu-ray players would decrease because consumers could afford to buy fewer LCD televisions and Blu-ray players. C) The demand for Blu-ray players would increase and the equilibrium price of Blu-ray players would increase. D) The supply of Blu-ray players would increase and the equilibrium price of Blu-ray players would decrease.