If You Are Given the Information That in Order to Vote

question 56

Multiple Choice

If you are given the information that in order to vote in a presidential election, you must be at least 18 years of age, and that Will voted in the last presidential election, you can logically conclude that Will is at least 18 years old. This is an example of using _________________ reasoning.

• A) inductive
• B) deductive
• C) conjunctive
• D) descriptive

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Definitions:

Long Run

The long run is a period in economics in which all factors of production and costs are variable, allowing full industry adjustment to changes.

Federal Funds Rate

The interest rate at which banks make overnight loans to one another

Money Demand

The desire to hold cash rather than other forms of assets due to its liquidity, determining how much money is needed for transactions, precautionary, and speculative motives.

Money Supply

The whole amount of cash, coins, and the funds in checking and savings accounts that make up the monetary resources within an economy at a specific period.