econ exam 4
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In your first presentation to management, how would you describe your planned methodology to perform the analysis?
What tool would you employ to analyze the relationship between gasoline prices and consumer behavior?
You should collect ___ amount of data to create ___ to test the ____ indicated by the economic model
a large, empirical evidence, hypotheses
Which of the following is the best example of causation (versus correlation)?
Oil prices go up and gasoline prices go up.
How does a natural experiment differ from a randomized one?
A natural experiment uses existing variation, while a randomized experiment generates variation.
Which type of experiment is likely to yield more accurate results?
Randomized, because a natural experiment may not be completely randomized.
Suppose you had to find the effect of seatbelt rules on road accident fatalities.Would you choose to run a randomized experiment or would it make sense to use natural experiments here? Explain.
Randomized, because seatbelt rules may be influenced by road accident fatalities.
On this evidence alone, do you think there is conclusive evidence in favor of stricter gun control laws?
No, because it is possible that the studies may be confusing correlation with causation
Causation occurs when there is
a logical cause-and-effect relationship.
The length of women's skirts and stock market performance is likely to be
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