The observation that interest rates are higher in years ending with a 1 or a 6 represents causality rather than association
a. True
b. False
Indicate whether the statement is true or false
False
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The price elasticity of supply measures how
A. responsive quantity supplied is to a change in incomes. B. easily labor and capital can be substituted for one another in the production process. C. responsive the quantity supplied of Y is to changes in the price of X. D. responsive the quantity supplied of X is to changes in the price of X.
An economic study concludes that an investment tax credit would increase business investment next year. This is an example of: a. normative analysis
b. positive analysis. c. negative economic analysis. d. the fallacy of composition.
In order for the existing workforce to be more productive, there needs to be
A. An increase in human capital. B. A decrease in economic growth. C. An increase in population. D. A redistribution of income within the nation.
In the short run where total variable cost is _________ at a(n) _________ rate, marginal cost is positive and decreasing.
A) increasing; increasing B) increasing; decreasing C) decreasing; increasing D) decreasing; decreasing