As the economy nears the end of an expansion, interest rates usually ________ and wages rise more ________ than prices

In order to discover anything about causal relationships in economics we must first have

A) all the relevant data. B) quantified data or statistics. C) scientific evidence. D) some kind of theory of how things fit together. E) the courage and civility to eliminate all biases and preconceptions from our thinking.

Depreciation is

A) the value of worn-out equipment, machinery, and buildings. B) the value of the decrease in business inventory stocks. C) the value of the addition to the capital stock. D) the decline in the value of the stock market, net of dividends.