_____ has a causal effect on _____.
A. Income; unemployment
B. Height; health
C. Income; consumption
D. Age; wage
Answer: C
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What will be the principal and most immediate effect on the supply or demand for raw cotton grown in the United States if the price of synthetic textiles declines?
A) Decrease in demand B) Decrease in supply C) Increase in demand D) Increase in supply
Which group of individuals most likely benefits from rent controls?
A) the unemployed who fail to obtain rental housing B) low-income wage earners who fail to obtain rental housing C) single parent families without savings or other financial assets who fail to obtain rental housing D) upper-income professionals who rent apartments at the price ceiling rate
Game theory is:
A. the study of how people behave strategically under different circumstances. B. used to evaluate the microeconomic choices that involve probabilities of different outcomes. C. used to predict the winners of only certain types of strategic games. D. the study of games of chance like solitaire or betting on horse races.
U.S. firms collectively devote the largest portion of their total R&D spending to:
A. applied research (pursuing invention). B. basic scientific research. C. innovation and diffusion. D. financing startup firms.