When Keynesians argue that "correlation does not necessarily imply causation," they are probably criticizing
A) structural-model evidence.
B) reduced-form evidence.
C) indirect-model evidence.
D) black-box evidence.
B
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With regard to the characteristics of production indifference curves, which of the following statements is/are NOT true?
A. Higher curves correspond to larger outputs. B. An indifference curve will generally have a negative slope. C. An indifference curve is typically assumed to curve inward toward the origin near its middle. D. All of the responses are true for production indifference curves.
Adverse selection is
a. when people act differently because they are insured b. when more risk averse people want to be insured more c. when people at a greater risk want to be insured more d. when your guess at a test question is wrong
Assume that the Paris First National Bank has deposits of $20 million. If the legal reserve requirement is 20 percent and the bank is fully loaned out, the bank will have outstanding loans totaling
a. $2 million b. $4 million c. $10 million d. $16 million e. $20 million
The Motor Carrier Act of 1980 removed the government's restriction on:
A. entry into the trucking industry. B. the size of trucks used to transport goods and services. C. entry into the industry that produces delivery trucks. D. entry into parcel delivery.