Applied research:
a. is designed to answer particular questions
b. is more open-ended than basic research.
c. contributes less to visible output changes than does basic research.
d. is research done by a firm to market a good.
e. is research done by a firm during the production of a good.
a
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Explain the difference between correlation and causation and give an example
Please provide the best answer for the statement.
When Scuba, Inc., lowered the price of a tank of compressed air by 20 percent, it sold 10 percent more tankfuls. The price elasticity for compressed air is
A. 2 B. 1/2. C. 1 D. 20
Answer the following statements true (T) or false (F)
1) Within the circular flow model, the level of total resource income and total spending on output will be approximately equal. 2) In determining GDP by the expenditures method, it is appropriate to use net investment rather than gross investment as a measure of investment spending. 3) Gross private domestic investment exceeds depreciation in an economy that experiences expanding production capacity. 4) Interest on the public debt is included as a part of government purchases in determining GDP by the expenditures method. 5) All expenditures on new construction are included as investment in calculating GDP.
The Employment Act of 1946, which sets up the Council of Economic Advisers,
(a) was the final legislation of the New Deal. (b) grew out of the War Manpower Board's experience. (c) grew out of financial negotiations with Britain. (d) was the product of New Deal experience with fiscal policy.