The unemployment rate was falling during all of the years that I was a student, but as soon as I graduated, the unemployment rate started to rise. Therefore, the job market was waiting until I started looking for employment to start to go bad. This statement is an example of
A. fallacy of inductive reasoning.
B. ceteris paribus fallacy.
C. fallacy of logic.
D. post hoc, ergo propter hoc fallacy.
Answer: D
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Workers earn more than half of the income generated by the production process
a. True b. False Indicate whether the statement is true or false
A downward-sloping line that makes a 45-degree angle with the horizontal and vertical axes has a slope of:
A. infinity. B. zero. C. 1. D. -1.
Refer to Figure 12.7. If Fred's profit in the top rectangle were 1,300 instead of 500, then the path of the game would be:
A. Fred chooses a small quantity and Barney enters. B. Fred chooses a large quantity and Barney enters. C. Fred chooses a small quantity and Barney stays out. D. Fred chooses a large quantity and Barney stays out.
According to the life-cycle theory of consumption, people tend to consume ________ they earn during their main working years.
A. an amount unrelated to what B. less than C. the same as D. more than