Graphs such as bar graphs and pie charts are limited in that they
a. can only show variables that are positively related.
b. can only show variables that have a negative correlation.
c. provide information on only one variable.
d. provide information on no more than two variables.
c
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If consumption = $5,000; investment = $800, government purchases = $700, exports = $30, imports = $60, and transfer payments = $340, then _____
a. GDP = $7,400 b. GDP = $7,740 c. GDP = $3,140 d. GDP = $6,470 e. GDP = $6,840
One of the most famous cartels is OPEC.
Answer the following statement true (T) or false (F)
If consumers have a long time to respond to an increase in electricity prices their demand is likely to be ________ than if they are only given a short time.
A. no different B. higher C. more elastic D. less elastic
Ravi notices that all of his neighbors who own cats are also divorced, and concludes that cat ownership must result in divorce. Ravi is
A. correct in his analysis. B. describing regression discontinuity. C. describing difference-in-differences. D. confusing correlation and causation.