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Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111 Exercise 41
INTRODUCTION TO ECONOMICS
This road map feature helps you tie together material in the part as you travel the Economic Way of Thinking Highway. The following are review questions listed by chapter from the previous part. The key concept in each question is given for emphasis, and each question or set of questions concludes with an interactive game to reinforce the concepts. Visit cengagebrain.com to purchase the MindTap product where you can select a chapter and play the visual causation chain game designed to make learning fun. The correct answers to the multiple choice questions are given in Appendix C.
Key Concept: Association versus causation
Someone notices that sunspot activity is high just prior to recessions and concludes that sunspots cause recessions. This person has
A) confused association and causation.
B) misunderstood the ceteris paribus assumption.
C) used normative economics to answer a positive question.
D) built an untestable model.
Causation Chain Game
The Steps in the Model-Building Process-Exhibit 2
This road map feature helps you tie together material in the part as you travel the Economic Way of Thinking Highway. The following are review questions listed by chapter from the previous part. The key concept in each question is given for emphasis, and each question or set of questions concludes with an interactive game to reinforce the concepts. Visit cengagebrain.com to purchase the MindTap product where you can select a chapter and play the visual causation chain game designed to make learning fun. The correct answers to the multiple choice questions are given in Appendix C.
Key Concept: Association versus causation
Someone notices that sunspot activity is high just prior to recessions and concludes that sunspots cause recessions. This person has
A) confused association and causation.
B) misunderstood the ceteris paribus assumption.
C) used normative economics to answer a positive question.
D) built an untestable model.
Causation Chain Game
The Steps in the Model-Building Process-Exhibit 2
Explanation
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The person has failed in choos...
Economics for Today 9th Edition by Irvin Tucker
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