The mutual relationship between two events is known as ________, and when one event is responsible for the other even happening, this is known as ________
A) causation; correlation
B) correlation; causation
C) symbiosis; correlation
D) causation; symbiosis
B
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Assume that both the demand curve and the supply curve for DVD players shift to the left but the demand curve shifts more than the supply curve. As a result,
A) both the equilibrium price and quantity of DVD players will decrease. B) the equilibrium price of DVD players will decrease; the equilibrium quantity may increase or decrease. C) the equilibrium price of DVD players may increase or decrease; the equilibrium quantity will decrease. D) the equilibrium price of DVD players will increase; the equilibrium quantity may increase or decrease.
In response to a temporary increase in government spending, the representative consumer consumes
A) more and takes more leisure. B) more and takes less leisure. C) less and takes more leisure. D) less and takes less leisure.
Prior to 1984, which of the following groups were exempted from the Social Security program?
a. federal workers b. Teamsters c. members of Congress d. a and c
Which of the following is not true of declining industries?
a. Job loss is not a problem in a declining industry because the workers can easily find jobs in expanding industries. b. Jobs may be lost by declining industries but new jobs are created in expanding industries. c. Over 60 million new jobs have been created in the United States since 1960. d. One way to solve the problems posed by declining industries is for the government to fund programs to retrain workers for jobs that are in greater demand. e. One way to solve the problems posed by declining industries is for the government to offer wage subsidies or special tax breaks that decline over time.