Ravi notices that all of his neighbors who own cats are also divorced, and concludes that cat ownership must result in divorce. Ravi is
A. correct in his analysis.
B. describing regression discontinuity.
C. describing difference-in-differences.
D. confusing correlation and causation.
Answer: D
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A firm's production function is the relationship between:
A) the inputs employed by the firm and the resulting costs of production. B) the factors of production and the resulting outputs of the production process. C) the demand for a firm's output and the quantity it is able to produce with available resources. D) the firm's production costs and the amount of revenue it receives from the sale of its output.
Which of the following is a problem with common resources?
a. They will be overused because they are rival when used. b. They will be underused because they cannot exclude users who haven’t paid. c They will be overused because they cannot exclude users who haven’t paid. d. They will be underused because they are rival when used.
From the highest to the lowest, the percentage of profits earned by businesses in the United States is represented by which of the following?
A) sole proprietorships, partnerships, corporations B) partnerships, corporations, sole proprietorships C) corporations, partnerships, sole proprietorships D) corporations, sole proprietorships, partnerships
Firms are the producing units of the economy.
Answer the following statement true (T) or false (F)