Which one of the following relationships is most likely to be stochastic rather than deterministic?
a) The relationship between the number of hours LEAP tutors work in one pay period and the size of their paycheck for that period.
b) The relationship between the number of boxes of Girl Scout cookies sold and the total revenue generated from the sales of Girl Scout cookies.
c) The relationship between the number of hours students study and their GPAs.
d) The relationship between the ticket revenue from a concert and the number of tickets sold.
Ans: c) The relationship between the number of hours students study and their GPAs.
You might also like to view...
For Adam Smith, commercial society is characterized by
A) private property rights. B) specialization in production. C) voluntary exchange. D) all of the above.
Explain how the market can reduce the incentive for credit-rating firms to take advantage of conflicts of interest
What will be an ideal response?
Portfolio investment can generally travel across borders _________ foreign direct investment can.
A. not as quickly as B. just as quickly as C. more quickly than D. None of these statements is true.
When the economy is initially at full employment:
a. expansionary monetary policy will tend to increase the price level in the short run and the long run. b. expansionary monetary policy will tend to increase the price level in the short run but not the long run. c. expansionary monetary policy will tend to increase the price level in the long run but not the short runq d. expansionary monetary policy will not tend to increase the price level in the short run or the long run.