(Last Word) The safest way for an individual to leave a burning theater is to run for the nearest exit; it is therefore also the best means of escape for a large audience. This assertion illustrates the:
A. "after this, therefore because of this" fallacy.
B. correlation fallacy.
C. fallacy of composition.
D. fallacy of limited decisions.
Answer: C
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When considering international trade, which of the following would be most conducive to domestic economic growth?
A) a closed economy B) an economy in which its domestic industries are protected by tariffs C) an economy with free and open markets to the outside world D) an economy in which most decisions are made by a central governmental authority
In a partnership of two people
A) each person has 50 percent liability. B) it is more difficult to specialize with two persons than with one. C) each person has unlimited liability. D) the law releases each partner from legal liabilities.
Refer to the information provided in Figure 33.2 below to answer the question(s) that follow. Figure 33.2Refer to Figure 33.2. England has
A. a comparative advantage in producing cars. B. no comparative advantage in producing either cars or trucks. C. a comparative advantage in producing trucks. D. an absolute advantage in producing cars.
One major component of money supply M1, demand deposits, is part of a bank's
A. net worth. B. liabilities. C. reserves. D. assets.