A "false positive" is
a. When you incorrectly conclude that your hypothesis is true
b. When you incorrectly conclude that your hypothesis is false
c. When you correctly conclude that your hypothesis is true
d. When you correctly conclude that your hypothesis is false
a
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If people expect the Fed to adopt a(n) ________ for several years, the long-run real interest rate will remain ________
A) contractionary fiscal policy; high B) expansionary fiscal policy; low C) expansionary monetary policy; low D) contractionary monetary policy; low
If a tariff is imposed on imports of shrimp into the United States, U.S. producer surplus from shrimp will ________ and U.S. total surplus from shrimp will ________
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease E) increase; not change
How does the political system of a country affect its economic performance? a. The political state dictates what will be produced and how it will be produced for many LDC countries and the success of their economies depends upon the success ofthe political leaders in mobilizing the resources of the economies
b. Political revolution is creative in the same way that technological change is creative in the economic system, and these creativities spark the economy's economicperformance. c. The right to vote is equivalent to consumer sovereignty, which is the right to choose one's consumption and employment. d. Political honesty, such as one law for all, helps the poor and they are the backbone of an economy's production. e. Political stability is a prerequisite for long-term investment.
If the price level increased from 120 to 144, then what was the inflation rate?
a. 24 percent. b. 25 percent. c. 20 percent. d. 17 percent.