Evidence for a causal connection
If "correlation does not imply causation," what does it imply? Are there ever any circumstances when a correlation can be interpreted as evidence for a causal connection between two variables? If yes, what circumstances?
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A study of US clinical population found that 23.4% are diagnosed with a mental disorder, 12.2% are diagnosed with an alcohol-related disorder, and 5% are diagnosed with both disorders.
Would total consumer expenditure on cigarettes rise or fall in the short run if the government were to impose a tax that raised the price of cigarettes by 5 percent What about in the long run?
A safety device and its independet back up each have 3% failure rate. What is the chance they both will fail?
How much must it pay for each hour it uses its capital if the George Firm is minimizing costs, its RTS is 1.5, and it pays its workers $30 per hour?
Consider what might happen to demand and supply if a significant number of retailers decided to implement the price-match guarantee.
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Give an example of a product you have recently purchased in which the price changed. Calculate whether the good was an elastic or inelastic good and explain how you know.
Could not Ethiopia become a world class producer and exporter of goods? Discuss how would Ethiopia compare with Japan? Japan is a country relatively POOR in natural resources, yet it is an economic world powerhouse. Calculate the differences among
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