Debbie realizes that her twin brother Dudley breaks out in hives every time he eats oysters, and concludes that when Dudley feels a case of hives coming on, he must get a craving for oysters. Debbie is
A. probably misguided in that there is no apparent correlation or causation in this situation.
B. definitely confusing correlation with causation.
C. very probably correct in her conclusion that Dudley craves oysters whenever he is about to break out in hives.
D. likely correct that there is causation, but the causation is more likely running in the opposite direction in that eating oysters is the probable cause of Dudley's hives.
Answer: D
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The money supply is ________ related to expected deposit outflows, and is ________ related to the market interest rate
A) negatively; negatively B) negatively; positively C) positively; negatively D) positively; positively
Suppose the money supply grows at an annual rate of 10%, real GDP grows at 4%, the growth rate of velocity is 0%, and the expected real interest rate on Aaa corporate bonds averages 5.5%
Use the Fisher equation to determine the nominal interest rate on Aaa bonds. What will happen to the nominal interest rate in the long run if the growth rate of the money supply decreases to 7%?
The ratio of the burden of the tax borne by demanders to the burden of the tax borne by suppliers will be equal to_____
a. the square of the slope of the demand curve b. the elasticity of demand times the elasticity of supply c. the ratio of the absolute values of the slopes of the demand curve and the supply curve d. the sum of the elasticities of the inverse demand curve and the supply curve
An example of frictional unemployment is a(n):
A. textile worker permanently laid off due to jobs lost to imports. B. engineer permanently laid off due to advances in technology. C. fast-food restaurant worker who quits work and attends college. D. computer programmer who leaves one job and accepts a new job.