A recession shows
A) supply always equals demand.
B) supply never equals demand.
C) thousands of businesspeople have misread market signals.
D) real GDP must be lower than nominal GDP.
E) not enough households are using their credit cards.
C
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Sarah is a high school graduate and James is a college graduate. Which of the following statements is true?
A) Sara is likely to have more human capital than James. B) James is likely to have more human capital than Sara. C) Both Sara and James are likely to earn the same wage in the labor market. D) Both Sara and James are likely to have the same amount of human capital.
A correlation between two variables implies that:
A) there is a cause-effect relationship between the two variables. B) it is impossible to measure one variable without measuring the other. C) there is a mutual relationship between both the variables. D) when one variable changes, the other variable always changes by exactly the same amount.