In Order to Determine a Causation Between a Change in the Price

question 77

Multiple Choice

In order to determine a causation between a change in the price of iPhones and the amount of iPhones purchased by customers, an economist must show that

• A)there is no correlation between the price of iPhones and the quantity of iPhones purchased.
• B)the change in the quantity of iPhones purchased occurs after the change in the price of iPhones.
• C)the change in the price of iPhones occurs along with the change in the quantity of iPhones purchased.
• D)the changes in the price and quantity of iPhones purchased always move in the same direction.
• E)the change in the price of iPhones brings about the change in the quantity of iPhones purchased.

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Definitions:

Fiduciary

A fiduciary is a person or organization that acts on behalf of another person or persons, putting their clients' interest ahead of their own, with a duty to preserve good faith and trust.

Written Contract

A legally binding agreement between parties that is expressed in written form rather than verbally.

Independent Contractor

An individual or entity contracted to perform work for—or provide services to—another entity as a non-employee, thereby assuming responsibility for his or her own taxes and benefits.

Employee-Contractor

A distinction used to describe the relationship between workers and those who hire them, with employees typically under the control of the employer, and contractors providing services under their own direction.