Question : Figure 1-1 11) Refer to Figure 1-1. Using the information : 1244593

Figure 1-1

11) Refer to Figure 1-1. Using the information in the figure above, calculate the percentage change in sales of alcoholic beverages between 2008 and 2011.

A) 23.1%

B) 23.8%

C) 30%

D) 42.9%

12) Refer to Figure 1-1. Using the information in the figure above, calculate the percentage change in sales of alcoholic beverages between 2007 and 2011.

A) 30%

B) 50%

C) 66.7%

D) 100%

13) Refer to Figure 1-1. Using the information in the figure above, calculate the percentage change in sales of alcoholic beverages between 2008 and 2010.

A) 23.8%

B) 40%

C) 42.9%

D) 73.3%

Figure 1-2

14) Refer to Figure 1-2. Calculate the area of the triangle A.

A) $1.3 million

B) $2.6 million

C) $3.4 million

D) $5.2 million

Figure 1-3

15) Refer to Figure 1-3. Calculate the area of the trapezoid X.

A) $270

B) $720

C) $810

D) $2,520

Figure 1-4

16) Refer to Figure 1-4. Which of the following statements is false?

A) The slope of the tangent at E is positive.

B) The slope of the tangent at F is negative.

C) The slope of the tangent at E and the slope of the tangent at F are equal.

D) Neither the slope of the tangent at E nor the slope of the tangent at F are equal to zero.

17) Refer to Figure 1-4. Which of the following statements is true?

A) The slope of the tangent at E is positive and the slope of the tangent at F is negative.

B) The slope of the tangent at E is negative and the slope of the tangent at F is positive.

C) The slope of the tangent at E and the slope of the tangent at F are negative.

D) The slope of the tangent at E and the slope of the tangent at F are positive.

18) What is the “omitted variable” problem in determining cause and effect?

A) It is a problem that arises when an insignificant variable is given too much weight in an economic analysis leading to skewed conclusions about cause and effect.

B) It is a problem that arises when a significant variable is not given enough weight in an economic experiment leading to skewed conclusions about cause and effect.

C) It is a problem that arises when an insignificant economic variable that should have been omitted is included in an economic experiment leading to false conclusions about cause and effect.

D) It is a problem that arises when an economic variable that affects other variables is omitted from an analysis and its omission leads to false conclusions about cause and effect.

19) ________ is a problem that occurs when one concludes that a change in variable X caused a change in variable Y when in actual fact, it is a change in variable Y that caused a change in variable X.

A) The omitted variable

B) The positive-to-negative relationship

C) Reverse causality

D) Nonlinear slope

20) The prevalence of Alzheimer’s dementia is very high among residents living in nursing homes. A student concludes that it is likely that living in a nursing home causes Alzheimer’s dementia. What is the flaw in the student’s reasoning?

A) The student has failed to take into account other causes of Alzheimer’s disease.

B) The student is drawing a false conclusion; he is confusing cause and effect.

C) The student is using an inadequate sample size.

D) The student is drawing a false conclusion by making the mistake of omitting critical variables such as the age and gender of the residents.