A student football team manager examined variables influencing the team's record and concluded that the best scores resulted when the "third-string" team played the most minutes. Therefore he recommended that the third-string team become the first team. Why is this conclusion probably
a. He failed to recognize that correlation is not causation.
b. He did not review the entire game strategy carefully enough.
c. He committed the fallacy of composition.
d. He confused positive and normative analysis.
Ans: a. He failed to recognize that correlation is not causation.
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Insurance works because
A) all policyholders pay in according to risks and all then receive a pay out in return. B) all policyholders pay in according to risks and then receive a pay out only if they incur a loss. C) all policyholders pay in according to risks and nobody receives any pay out. D) only high risk policyholders pay in while everyone is entitled to a pay out.
With the policy rate set at zero, the rise in expected inflation will lead to a ________ in the real interest rate, which will cause investment spending and aggregate output to ________
A) fall; rise B) fall; fall C) rise; rise D) rise; fall
Discuss the interaction between economic growth and fertility.
What will be an ideal response?
A business can escape perfect competition by building a better, more innovative product.
Answer the following statement true (T) or false (F)