A graph is a
a. lengthy, inefficient, and inconvenient way to illustrate information
b. diagram illustrating a relationship between variables
c. method of proving causation
d. tool for incorporating all major and minor variables in one illustration
e. clear way to see how the fallacy of composition works
B
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If the United States has a net export surplus, which of the following must be true?
A) Domestic private saving must be greater than net foreign investment. B) Net foreign investment must be positive as well. C) Domestic public saving must be greater than net foreign investment. D) The balance on the financial account must equal the balance on the current account.
The purpose of the Current Population Survey is to determine the
What will be an ideal response?
A study has estimated the effect of changes in interest rates and consumer confidence on the demand for money to be: ln M = 14.666 + .021 ln C ? 0.036 ln r, where M denotes real money balances, C is an index of consumer confidence, and r is the interest rate paid on bank deposits. Based on this study, a 5 percent increase in interest rates will cause the demand for money to:
A. increase by 1.8 percent. B. increase by 0.18 percent. C. drop by 0.18 percent. D. drop by 1.8 percent.
?Kites /hourSnowboards /hourJesse81April123
Consider two individuals, Jesse and April, who hand paint kites and snowboards. Table 3.1 shows how much of each good Jesse and April can paint in one hour. Jesse's opportunity cost of painting one kite is painting:
A. 1/12 of a snowboard. B. 1/8 of a snowboard. C. 1/3 of a snowboard. D. 3 snowboards.