In the economic way of thinking, "outsourcing" is another application of
A) the entrepreneurial attempt to buy low, and sell high.
B) voluntary exchange.
C) the coordination of plans across different regions.
D) the discovery of people's comparative advantage.
E) all of the above.
E
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According to the quantity theory of money demand
A) an increase in interest rates will cause the demand for money to fall. B) a decrease in interest rates will cause the demand for money to increase. C) interest rates have no effect on the demand for money. D) an increase in money will cause the demand for money to fall.
The presence of association between two variables does not necessarily imply causation for the following reason(s):
a. the association between two variables may result simply from pure chance b. the association between two variables may be the result of the influence of a third common factor c. both variables may be the cause and the effect at the same time d. a and b e. a, b, and c
Explain what protections and rules are in place for entrepreneurs, which encourages them to innovate
An income distribution may not give an accurate picture of the standard of living for the poor because it does not include in-kind transfers
a. True b. False Indicate whether the statement is true or false