Read the following two sentences: A: As the conductor approached the podium, all the orchestra members stood to show respect. B: As the man stood to get a better view of the concert, all the other people in the audience also stood, blocking his view. Which of the following is the correct comparison of A and B?
a. A and B both show causation.
b. A shows the fallacy of composition; B shows causation.
c. A and B both show the fallacy of composition.
d. A shows causation; B shows the fallacy of composition
d. A shows causation; B shows the fallacy of composition
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Along a straight-line demand curve, as the price falls the
A) demand becomes more elastic. B) demand becomes less elastic. C) elasticity of demand is constant. D) demand is always unitary elastic.
What does the supply curve tell us about the producer's minimum supply price?
What will be an ideal response?
Consumption expenditures do not include household purchases of
A) medical care. B) durable goods. C) new houses. D) education.
Refer to Table 19-17. What is nominal GDP in 2011?
A) $3,320 B) $3,690 C) $6,360 D) $7,035