You have observed that every time you do 30 minutes of cardio exercise before taking an exam you get an A. You therefore conclude that to get an A on an exam, all you have to do is 30 minutes of cardio exercise before you take an exam. You have committed the
A. fallacy of logic.
B. post hoc, ergo propter hoc fallacy.
C. fallacy of division.
D. fallacy of inductive reasoning.
Answer: B
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Mary makes 10 pies and 20 cakes a day and her opportunity cost of pro-ducing a cake is 2 pies. Tim makes 20 pies and 10 cakes a day and his op-portunity cost of producing a cake is 4 pies
If Mary and Tim specialize in the good in which they have a comparative advantage ______. A. Mary produces pies B. Tim produces pies and cakes C. Mary produces cakes while Tim produces pies D. Tim produces cakes while Mary produces pies
Why might a small investor be interested in buying a mutual fund as opposed to stock in an individual company?
What will be an ideal response?
Suppose that the Japanese yen appreciates significantly at some point, thus making Japanese imports more expensive. Japanese exporters may lower their profit margins to reduce the effect of the yen appreciation on U.S
importers, producing a phenomenon known as A) the J-curve. B) the absorption effect. C) pricing to market. D) international reserves compliance.
Some economists argue that there is no such thing as a short-run Phillips curve. Who are these economists and what is their argument?