A Student Conducted a Survey Among Different Groups of People

question 12

Multiple Choice

A student conducted a survey among different groups of people in his town in which he asked how many times per year they visit the theater. ​ ​ The accompanying table provides data on the age and average number of visits to the theater per year. ​ Construct a scatterplot of x = age and y = number of visits to the theater per year. Does age appear to be related to the average number of visits to the theater per year? ​

• A) There appears to be no tendency for the number of visits to the theater to increase or decrease as age increases.
• B) There appears to be a strong tendency for the number of visits to the theater to increase as age increases.
• C) There appears to be a strong tendency for the number of visits to the theater to decrease as age increases.

Explain the concepts of Say's law and the reasons for its critique by Keynesian economics.

Recognize the factors that shape the aggregate demand curve and how shifts in aggregate demand affect the economy.

Understand the conditions for macroeconomic equilibrium and the role of government intervention according to Keynes.

Distinguish between the short-run and long-run aggregate supply curves and their significance in economic analysis.

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Definitions:

Norm System

The set of rules and standards shared by a group that guides and constrains the behavior of its members.

Cultural System

An organized collection of symbols, values, norms, and practices shared by a group, which guides behavior and influences social life.

Sanction

Measures taken by countries or international bodies to penalize others for certain behaviors or actions, often involving trade restrictions or economic penalties.

Social Control

Mechanisms, strategies, and institutions by which societies attempt to regulate individual behavior to maintain order and conformity.