Correlations Allow Us to _____, While Experiments Allow Us to _____

question 180

Multiple Choice

Correlations allow us to _____, while experiments allow us to _____.

• A)determine causation; make predictions
• B)demonstrate statistical significance; make predictions
• C)make predictions; demonstrate percent of variance
• D)make predictions; determine causation

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Definitions:

Utility

A measure of satisfaction or benefit that consumers receive from consuming goods and services.

Equilibrium Position

The state in which market supply and demand balance each other, resulting in stable prices and quantities.

Budget Line

A graphical representation showing all possible combinations of two goods that can be purchased with a given income.

Indifference Curves

Graphical representations used in economics to show the different combinations of two goods that give a consumer equal satisfaction and utility.