It has been found that people die at a much higher rate in hospitals than in most other environments, leading some to conclude that hospitals cause death. What is the problem with this reasoning?
This illustrates a confusion of correlation with causation. The fact that mortality rates are higher in hospitals than in other environments reflects the fact that hospital patients are more likely to be ill, not that hospitals cause death.
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Assuming an economy starts in long-run equilibrium, if the aggregate demand curve were to decrease:
A. the long-run effect would be a lower price level. B. output in the economy would increase. C. prices in the economy would increase. D. the short-run aggregate supply curve would shift left.
Total profit (or loss)
A. is the rectangle bounded by OMGS.
B. is the rectangle bounded by OKER.
C. is the rectangle bounded by LMGF.
D. None of the choices are correct.
Some competitive firms are willing to operate at a loss in the short run because their revenues are at least able to cover their variable costs
a. True b. False Indicate whether the statement is true or false
When the Federal Reserve wishes to, in the short run, increase real GDP, it
A. will increase the money supply by selling bonds. B. will increase the money supply by buying bonds. C. will decrease the money supply by selling bonds. D. has no policy options that will accomplish this.