Give an example of a one-tailed hypothesis that may be tested through a correlation.
What will be an ideal response?
ANS:Example: Higher crime rates will be associated with lower income levels.
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Which of the following is NOT true?
a. Quartz rocks made good money in ancient times because of their excellent portability. b. Money must be accepted by the general population it is meant to serve. c. Money must be easily divisible so that buyers can receive “change” if the item they bought was not worth as much as the money they gave the merchant. d. Paper makes good money because of its portability. e. Coins make good money because of their durability.
Griffith Manufacturing ships 40 crates of goods by Trusty Shipping, a common carrier. Trusty offers Griffith a shipping rate of $725 for a limited liability of $5,000 or a rate of $975 for full liability for any harm to the goods. Griffith chooses the $725 rate. In transit, Trusty's driver has an accident during an ice storm and all of Griffith's goods are destroyed, causing a loss of $12,000
If Griffith sues Trusty, a. Trusty will be liable for only $5,000 because a common carrier is allowed to limit its liability by contract. b. Trusty will be liable for the full $12,000 because common carriers have strict liability. c. Trusty will automatically be liable for the full $12,000 under the Carmack Amendment. d. Trusty is subject to normal bailment rules and can escape liability for any damage to the goods by proving that it exercised due care of the property and that the loss was caused by an act of God.
______ is the price one would will be willing to pay for acquiring an additional unit of a resource.
A. Final cost B. Reduced cost C. Shadow price D. Single price
Which of the following is a common criticism of deontological ethical theories?
a. They are excessively pragmatic. b. They are rigid and excessively formal. c. They only consider actions by their motives. d. They fail to consider universal principles.