Suppose that a study is released stating that the fewer books people read, the more velvet paintings they tend to own. This is best described as an example of
A. positive correlation.
B. negative correlation.
C. positive causation.
D. negative causation.
Answer: B
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Microeconomics is concerned with:
A. the aggregate or total levels of income, employment, and output. B. a detailed examination of specific economic units that make up the economic system. C. positive economics, but not normative economics. D. the establishing of an overall view of the operation of the economic system.
If there are no interventions by finance ministers or control banks in the international market, then
A) the current account and the capital account must sum to zero. B) the current account will be greater than the financial market. C) the capital market will be greater than the current account. D) the capital market will equal the current account.