If a Television Ad Tells You That a "Psychic Hotline

question 63

Multiple Choice

If a television ad tells you that a "psychic hotline" can predict your entire future for you in three half-hour sessions,

• A) beware of over-simplification.
• B) note the difference between observation and inference.
• C) remember that correlation does not mean causation.
• D) realize the authenticity of the psychic has been thoroughly checked by the TV media
• Before broadcast.

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Definitions:

Trade Flow

Refers to the movement of goods and services between countries, indicating the import and export activities.

Exchange Rates

The value of one currency for the purpose of conversion to another; it determines how much of one currency can be exchanged for another currency.

Free Market

An economic system where prices for goods and services are determined by the open market and consumers, free from government intervention.

Subsidies

Financial support extended by the government to lower the price of goods or services or to support businesses.