The number of people who have gray hair is very high among residents living in Florida. A student concludes that living in Florida causes hair to turn gray. What is the flaw in this student's reasoning?
A) The student is drawing a false conclusion by making the mistake of omitting critical variables such as the age and gender of the residents.
B) The student has failed to take into account other causes of gray hair.
C) The student is using an inadequate sample size.
D) The student is drawing a false conclusion; he is confusing cause and effect.
D
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How does the science of economics deal with the fact that we all have different values?
A) by assuming that values don't play a role in economic behavior B) by seeking to discover the sources of different value systems C) by using positive analysis D) by surveying the public to see what the most common values are, and then incorporating those as assumptions into their models
Between 1891 and 1896,
a. both "external" and "internal" gold drains plagued the U.S. Treasury. b. Americans rushed to exchange notes for gold. c. Treasury reserves of gold dipped below the minimum reserve of $100 million. d. increases in commodity exports ultimately bolstered the gold reserves of the Treasury. e. All of the above.
Actively managed mutual funds usually fail to outperform index funds, and this fact provides evidence in favor of the efficient markets hypothesis
a. True b. False Indicate whether the statement is true or false
If the economy spends 80 percent of any increase in real GDP, then an increase in investment of $1 billion would result ultimately in an increase in real GDP of:
A. $0. B. $0.8 billion. C. $1.0 billion. D. $5.0 billion.