Which of the Following Statements Is TRUE

question 72

Multiple Choice

Which of the following statements is TRUE?

• A)If two variables X and Y are correlated, then X causes changes in Y.
• B)If two variables X and Y are correlated, then Y causes changes in X.
• C)If X causes changes in Y, then X and Y are correlated.
• D)None of the above.

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Definitions:

Tax

A mandatory financial charge imposed by a governmental organization on individuals or entities to fund public expenditures.

Slightly Inelastic

A situation where a change in price leads to a relatively smaller change in the quantity demanded or supplied.

Demand for Product

The total amount of a product or service that consumers are willing and able to purchase at various price levels, at a given time.

Advertisers

companies or individuals who pay to promote their products or services, typically through various media channels.