We Conduct a Research Project in Which We Collect Data

question 50

Multiple Choice

We conduct a research project in which we collect data from individual teenagers about their drug use and then draw conclusions about rates of drug use in the communities the teenagers are from. This research may well be subject to:

• A)the reductionist fallacy.
• B)the ecological fallacy.
• C)the inductive fallacy.
• D)the deductive fallacy.

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Definitions:

Interest Rate

The cost of borrowing money or the reward for saving, usually expressed as a percentage of the principal amount per period.

Economic Profit

The return flowing to those who provide the economy with the economic resource of entrepreneurial ability; the total revenue of a firm less its economic costs (which include both explicit costs and implicit costs); also called “pure profit” and “above-normal profit.”

X-Inefficiency

The difference between actual output and the maximum possible output that could be achieved with the same input of resources, due to inefficiencies within a firm.

Dynamic Change

The process of constant, sometimes unpredictable change within systems or environments, affecting economic, social, or technological aspects over time.