When toilet paper sales increase, quarterly economic growth tends to rise. This is an example of:
A. correlation without causation.
B. the presence of ceteris paribus.
C. causation with no correlation.
D. two variables that are negatively correlated.
Answer: A
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Most researchers agree that the New Deal positively impacted
(a) employment and overall production. (b) wages, working conditions and working hours. (c) electricity production and use of it as power. (d) all of the above.
Annual budgeting of production goals of a division within a firm
a. is an accounting mechanism to plan for the costs and revenues over a time period b. increase the burden on the division when goals rise c. can lead to accumulated inventory when goals rise d. all of the above
Supply-side economics stress that: a. aggregate demand is the major determinant of real output
b. higher tax rates discourage people from working and investing as much as they would at lower tax rates. c. an increase in government expenditures and tax rates will cause real income to rise. d. expansionary monetary policy will cause real output to expand without accelerating inflation.
Refer to the graph shown. Producer surplus that is lost to society as a result of monopoly is:
A. $5.00. B. $15.625. C. $16.875. D. $2.50.