Refer to Scenario 1.2 below to answer the question(s) that follow.SCENARIO 1.2: A scientist wants to understand the relationship between automobile emissions and the level of global warming. The scientist collects data on the volume of automobile emissions and the levels of global warming over time. The scientist concludes that a 1% increase in automobile emissions causes a 0.0003% increase in average global temperatures. From this information he concludes that the automobile emissions are harmful to the environment and should be reduced to stop the increase in global temperatures.Refer to Scenario 1.2. A graph of the volume of automobile emissions on one axis and the level of average global temperatures on the other axis is an example of
A. inductive reasoning.
B. an economic model.
C. a variable theory.
D. an economic theory.
Answer: B
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It is possible to have a comparative advantage in producing a good or service without having an absolute advantage
Indicate whether the statement is true or false
Which of the following would NOT be considered a determinant of marginal productivity?
A) talent B) gender C) experience D) training
U.s. gdp
a. includes production of foreigners working in the U.S. and production by U.S. residents working in foreign countries. b. includes production of foreigners working in the U.S. but excludes production by U.S. residents working in foreign countries. c. excludes production of foreigners working in the U.S. but includes production by U.S. residents working in foreign countries. d. excludes production of foreigners working in the U.S. and production by U.S. residents working in foreign countries.
The Fed would be pursuing a contractionary monetary policy if it was
A. lowering the reserve requirement. B. selling dollars in foreign exchange markets. C. selling bonds in the open market. D. lowering the differential between the discount rate and the federal funds rate.