Which of the following is an accurate definition of correlation?
a. an event that has no effect on another event
b. two events that occur separately
c. two events that occur together
d. an event that causes another event
c. two events that occur together
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Next year's expected price of oil is $90 per barrel. If the interest rate climbs from 5 percent to 20 percent per year and nothing else changes, then according to the Hotelling Principle the price of oil this year
A) will rise. B) will fall. C) will not change. D) could rise, fall, or stay the same.
A manager may over-research the appropriateness of a decision
a. Because the costs of a false positive are usually larger b. Because the costs of a false negative are usually larger c. Because it is important to be 100% certain before making a decision d. Because managers can face inordinate censure from agreeing to a bad decision
If resource prices are "sticky" downward and a recessionary gap develops in an economy, the short-run aggregate supply curve will _____
Fill in the blank(s) with the appropriate word(s).
YearSalaryCPI1969$20,52036.71979$43,26572.61989$85,529124.01999$135,250166.62009$170,844214.5Your father tells you he earned a salary of $45,000 a year in 1980. This salary figure is the:
A. value of his salary adjusted to 2009 dollars. B. nominal value of his salary in 1980. C. value of his salary adjusted for inflation. D. real value of his salary in 1980.