Which of the following statements is true?
A) Empirical arguments can be supported without the use of data.
B) Using a large data set will strengthen the force of an empirical argument
C) Using fewer observations will strengthen the force of an empirical argument.
D) The number of observations used does not affect the strength of an empirical argument.
B
You might also like to view...
Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
What is the nature of the trilemma that is encountered when choosing monetary arrangements?
A) Only two of the three aspects of internal and external balance can be accommodated simultaneously. B) Only three of the four aspects of internal and external balance can be accommodated simultaneously. C) Only one of the three aspects of internal and external balance can be accommodated simultaneously. D) Only two of the four aspects of internal and external balance can be accommodated simultaneously. E) Only one of the four aspects of internal and external balance can be accommodated simultaneously.
For most goods and most people, marginal utility probably
a. continues to increase as larger quantities are purchased. b. plummets after the first few units but soon begins to rise. c. declines as consumption increases. d. is negative after the first unit of a good is purchased. e. is positive and rising for most goods.
Which of the following is true of high and variable rates of inflation?
a. When such rates are present, it will be difficult for people to accurately forecast next year's rate of inflation. b. Inflation of this type will help promote economic growth and the efficient use of resources. c. People will respond to such rates by spending more time producing and less time trying to protect their wealth and income from the uncertainty created by the inflation. d. Inflation of this type will improve the information content delivered by market prices.