The incorrect presumption that because two events tend to occur together, one must cause the other is the:
A) confusion of economists.
B) blunder of science.
C) fallacy of false cause.
D) error of inclusion.
Ans: C) fallacy of false cause.
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If the price of airline tickets falls, what will happen to the demand curve for flight attendants?
a. It will shift to the right. b. It will shift to the left. c. The direction of the shift is ambiguous. d. It will remain unchanged.
Suppose the total market value of all the final goods and services produced in the country of Rushya was $8 billion in 2008 (measured in 2008 prices) and $9 billion in 2009 (measured in 2009 prices). Which of the following statements is definitely correct?
A. Real GDP increased in Rushya between 2008 and 2009. B. Average price levels increased in Rushya between 2008 and 2009. C. Production increased in Rushya between 2008 and 2009. D. Whether real GDP increased cannot be determined with the information given.