The argument that purchases of minivans cause large families is an example of
a. omitted variables.
b. normative statements.
c. reverse causality.
d. bias.
c
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During the financial crisis of 2007–2009, the interest rate on mortgage-backed securities had
A. increased and the Treasury interest rate had risen. B. increased and the Treasury interest rate had fallen. C. decreased and the Treasury interest rate had risen. D. decreased and the Treasury interest rate had fallen.
A tax that takes a larger proportion of income from low-income groups than from high-income groups is a:
A. stabilizing tax. B. regressive tax. C. progressive tax. D. proportional tax.
Keynes believed that during an economic downturn, firms would ________ because consumers would ________.
A. hire more workers; increase their spending B. lay off workers; spend too much C. hire more workers; decrease their spending D. have no incentive to hire workers; spend too little
Inflation means that:
A. all prices are rising, but at different rates. B. all prices are rising and at the same rate. C. prices on average are rising, although some particular prices may be falling. D. real incomes are rising.