When two variables have a negative correlation,
a. they tend to move in opposite directions.
b. they tend to move in the same direction.
c. one variable will move while the other remains constant.
d. the variables' values are never positive.
a
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When Dale buys a new computer for $1,000 using a credit card,
A) his bank account decreases by $1,000. B) he is taking out a loan for $1,000. C) the credit card is acting as money. D) the money supply decreases by $1,000. E) the credit card is performing the function of an unit of account.
Refer to Scenario 17.2. If the threshold educational level y* is set at 45,
A) only individuals in Group K will attain it. B) only individuals in Group M will attain it. C) individuals in both groups will attain it. D) no individuals will attain it. E) some fraction of individuals in each group will attain it.
If a country’s workers can produce 10 hamburgers per hour or 5 bags of French fries per hour. If there is no trade, the price of 1 bag of fries is 2 hamburgers.
Answer the following statement true (T) or false (F)
A reason why the CPI overstates the cost of living is that the
A. BLS audits prices in the same types of stores, rather than shift to cheaper outlets. B. CPI makes no attempt to ascertain what average people buy. C. CPI makes no attempt to update the market basket. D. CPI only measures the effects of inflation on the poor.