When two variables have been observed to have a tendency to occur at the same time, we can say there is ____________ but not necessarily ____________.
A. causation; correlation
B. correlation; causation
C. positivity; causation
D. normality; correlation
B. correlation; causation
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Even when a particular monetary asset is not performing one of the functions of money well, people still use the asset because
A) once an asset is defined as money it is always money. B) people expect money will come back at a later date. C) they have no choice. D) it is still easier than relying on barter.
Which of the following about unemployment is true?
a. When a dynamic labor market is operating efficiently, mostly cyclical unemployment will be present. b. Some unemployment will be present even when a dynamic labor market is operating efficiently. c. When full employment is present, the rate of unemployment will be zero. d. When full employment is present, there will not be any frictional unemployment. e. When full employment is present, it will be impossible to sustain the current rate of output in the future.
Trade restrictions that limit the sale of low-price foreign goods in the U.S. market
a. increase the real income of Americans. b. benefit domestic producers in the protected industries at the expense of consumers and domestic producers in export industries. c. help channel more of our resources into producing goods for which we are a low-cost producer. d. reduce unemployment and increase the productivity of American workers.
Based on the graph showing diminishing marginal utility of income, which action would cause the greatest loss in utility?
a. taking $30,000 from high earners
b. taking $30,000 from low earners
c. giving $30,000 to high earners
d. giving $30,000 to low earners