You have observed that every time you get a new tattoo the day before you take an exam you get an A. You therefore conclude that to get an A on an exam, all you have to do is get a new tattoo the day before. You have committed the
A. fallacy of inductive reasoning.
B. post hoc, ergo propter hoc fallacy.
C. Ockham's fallacy.
D. fallacy of division.
Answer: B
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Using the Cambridge equation, by how much does the demand for money rise at a constant real GDP of $2,000 billion when the price level rises by 10 percent from 1.00, given k = 0.25?
A) $200 billion B) $20 billion C) $550 billion D) $50 billion
When the government enacts fiscal policy, it:
A. may not always be able to improve matters. B. might make things worse. C. can bring the economy to its long-run equilibrium more quickly than it can correct itself. D. All of these are true.
Countries with larger debts in terms of absolute value are worse off than countries with smaller debts.
Answer the following statement true (T) or false (F)
In the two-period dynamic monopoly, if the monopolist succeeds in selling a sufficiently high quantity in the first period,
A) the second-period demand curve will lie close to the price axis. B) the second-period demand curve will become horizontal. C) the second-period demand curve will become unit elastic. D) the second-period demand curve will shift substantially to the right.