Which of the following represents causality rather than association?
a. In years that fashion dictates wider lapels on men's jackets, the stock market grows by at least 5 percent.
b. Unemployment falls when the AFC champion wins the Super Bowl.
c. Interest rates are higher in years ending with a 1 or a 6.
d. Quantity demanded goes up when price falls because lower prices increase consumer purchasing power, and because some consumers of substitute goods switch.
d
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What most accurately describes the U.S. compared to other nations in the early 1900s?
a. The U.S., which was still quite young, was one of the least productive nations in the world in both the agricultural and manufacturing sectors. b. The U.S., Great Britain and Germany were the three most industrialized nations. c. The industrial output in the U.S. was about average compared the rest of the nations in the world. d. The U.S., which had large supplies of land, had a highly productive agricultural sector, but its industrial productivity was quite low relative to that of other nations.
Which of the following types of taxes achieves vertical equity: a proportional tax, regressive tax, and/or progressive tax?