The fallacy of composition deals with problems associated with ______.
a. aggregation
b. causation
c. correlation
d. scarcity
a. aggregation
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A survey which sought the opinion of professional economists on fourteen propositions about economic policy found that
a. the respondents were almost equally divided on the propositions. b. the respondents favored the propositions by a slight margin. c. the respondents disagreed with the propositions by a slight margin. d. there was overwhelming endorsement of the propositions among the respondents.
Banks can continue to make loans until their
A) actual reserves equal their required reserves. B) excess reserves equal their required reserves. C) actual reserves equal their excess reserves. D) actual reserves equal their checking account balances.
Using the above table, diminishing marginal utility begins after the ________ glass of water is consumed.
A. 6th B. 5th C. 1st D. 2nd
What is the euro and why has it been created? How has its value changed relative to the U.S. dollar since its inception?
What will be an ideal response?