A positive relationship exists between two variables if
A) one variable has "positively" no effect on the other variable.
B) a reduction in one variable is associated with an increase in the other variable.
C) a reduction in one variable is associated with a decrease in the other variable.
D) both variables are inflation-distorted.
C
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A diagram shows the quantity of tomatoes on the horizontal axis and the quantity of coffee on the vertical axis. The quantity of tomatoes remains constant as the quantity of coffee increases. The graph of these data is
A) a horizontal line. B) a vertical line. C) a positively sloped line. D) a negatively sloped line
Which of the following statements describes economists' attitudes regarding the influence of social factors on the choices consumers make?
A) Economists believe social factors affect consumer choice in markets for public goods but not in markets for private goods. B) Liberal economists believe social factors are very important; conservative economists do not believe social factors have any influence on consumers. C) Economists traditionally believed they were unimportant, but many economists now believe social factors are important. D) Economists formerly believed they were very important but now they believe they are not important.
Refer to the table below. What is the profit-maximizing number of quality units for Stuffed Pies to produce?
Stuffed Pies is a frozen calzone manufacturer. The table above summarizes Stuffed Pies' marginal revenue and marginal cost of quality at various quality amounts.
A) 9
B) 11
C) 7
D) 13
Which of following is not an important category of bias in human decision making?
A. Temptation. B. Limited processing power. C. Reluctance to change. D. Single-mindedness.