State the type of correlation between the following sets of variables
a) Consumption and income
b) Education and unemployment
c) Availability of health care and death rate
d) Pollution control measures adopted in Canada, and number of cases of respiratory diseases in Australia
a) Consumption and income are likely to be positively correlated.
b) Education and unemployment are likely to be negatively correlated.
c) Health care and death rate are likely to be negatively correlated.
d) The relationship between pollution control in Canada, and number of cases of respiratory diseases in Australia is likely to be a zero correlation.
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A small business owner earns $60,000 in revenue annually. The explicit annual costs equal $40,000. The owner could work for someone else and earn $25,000 annually. The owner's business profit is ________ and the economic profit is ________
A) $20,000, $5,000 B) $20,000, -$5,000 C) $25,000, -$5,000 D) $45,000, -$5,000
The nominal interest rate
What will be an ideal response?
Refer to the information provided in Figure 3.1 below to answer the question(s) that follow.
Figure 3.1Refer to Figure 3.1. Which of the following would be most likely to cause the demand for Dr. Pepper to shift from D0 to D1?
A. a reduction in the price of sugar used to make Dr. Pepper B. an increase in the price of 7-UP, assuming 7-UP is a substitute for Dr. Pepper C. a decrease in income, assuming that Dr. Pepper is a normal good D. a decrease in the price of Dr. Pepper
A major difference between industrial regulation and social regulation is that industrial regulation:
A. Covers many industries across the economy B. Has expanded rapidly since the 1970s C. Is targeted at the prices charged, the costs of production, and amount of profit D. Focuses on product design, employment conditions, and the production process