You have observed that every time you get a new tattoo the day before you take an exam you get an A. You therefore conclude that to get an A on an exam, all you have to do is get a new tattoo the day before. You have committed the
A. fallacy of inductive reasoning.
B. fallacy of division.
C. Ockham's fallacy.
D. post hoc, ergo propter hoc fallacy.
Answer: D
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If the economy is fully employed, which of the following is true?
A) The price level equals 100. B) Real and nominal GDP are equal. C) Real and potential GDP are equal. D) The unemployment rate is zero. E) Real GDP cannot increase.
Everything else held constant, a decrease in net taxes ________ aggregate ________
A) increases; demand B) decreases; demand C) decreases; supply D) increases; supply
Identify the statement which is true of a barter system? a. In a barter system, trade will only occur if there is a double coincidence of wants. b. In a barter system, an individual offers coins to get a good or service
c. In a barter system, an individual offers a commodity money to get fiat money. d. In a barter system, different kinds of money are exchanged for one another. e. In a barter system, individuals are self-sufficient.
The difference in prices for first-class and coach airline tickets exemplifies price discrimination
a. True b. False Indicate whether the statement is true or false