The mistake of inferring causality from two events happening one after the other is called
A. the fallacy of co-dependence.
B. the fallacy of composition.
C. the post hoc, ergo propter hoc fallacy.
D. Ockham's razor.
Answer: C
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When young students are hungry, they can be disruptive and inattentive in class. Thus, providing lunch to students has external benefits. The figure above represents the market for school lunches before and after government vouchers are issued
a. What is the unregulated private market equilibrium? b. What is the efficient quantity of lunches? c. What is the amount of the voucher necessary to move the economy to the efficient number of lunches? d. When vouchers are used, what is the dollar price of the lunch that suppliers receive and what is the dollar price that consumers pay when the voucher is used?
If the marginal propensity to consume is 2/3 and autonomous consumption spending increases by $3 trillion, what is the change in GDP?
a. $3 trillion b. $1 trillion c. -$3 trillion d. $9 trillion e. -$9 trillion
In the United States, nominal interest rates were
a. high in the 1970s and 1990s. b. low in the 1970s and 1990s. c. high in the 1970s and low in the 1990s. d. low in the 1970s and high in the 1990s.
If the total utility curve is a straight line, the marginal utility curve would be a:
A. an upward-sloping line with a slope of 1. B. a vertical line. C. downward-sloping line. D. a flat line with a slope of zero.