In the past, there was a strong correlation between ice cream consumption by children and polio cases for children. There was not a causal relationship due to:
A. a common underlying omitted variable.
B. reverse causality.
C. an infection present in cherries.
D. accounting fraud practiced by Baskin Robbins.
Answer: A
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When deciding to implement a congestion tax, economists and the government would use the elements of the economic way of thinking to primarily determine
A) what tax amount should be charged. B) who should be exempt from the tax. C) if the tax would be allocated equitably. D) how much revenue will the tax generate.
Less-developed countries are experiencing rapid population growth because _____
a. birthrates are rising at a slower rate than mortality rates b. birthrates are falling while mortality rates are rising c. both birthrates and mortality rates are falling d. birthrates are rising while mortality rates are falling e. birthrates are constant and mortality rates are rising
A U.S. firm exchanges dollars for yen and then uses them to buy Japanese goods. Overall as a result of these transactions
a. both U.S. net capital outflow and U.S. net exports rise. b. both U.S. net capital outflow and U.S. net exports fall. c. U.S. net capital outflow rises and U.S. net exports fall. d. U.S. net capital outflow falls and U.S. net exports rise.
Which of the following shifts the long-run Phillips curve left?
a. both an increase in the inflation rate and a decrease in the minimum wage rate b. an increase in the inflation rate, but not a decrease in the minimum wage rate c. a decrease in the minimum wage rate, but not an increase in the inflation rate d. neither a decrease in the minimum wage rate nor an increase in the inflation rate