Critical Thinking Questions Case 3-1 Bea Is the Best Pie

question 32

Multiple Choice

Critical Thinking Questions Case 3-1 Bea is the best pie baker around. She has decided to go into business and takes a survey in her town to find out what types of pies are favorites. She decides to record her data in a workbook to present to the bank when she seeks a loan for her business startup costs. Naturally, Bea wants a Pie chart in her workbook. She would like each slice to represent the different types of pies she plans to sell and show this on a 3-D Pie chart. Bea has received a suggestion to emphasize the most favorite type of pie. From a design perspective, what should she do to emphasize the apple pie?

• A)not do anything to the slice because Excel does it automatically
• B)move the chart to the upper-left corner of the chart sheet
• C)rotate the apple pie slice toward the front and explode it
• D)rotate the apple pie slice toward the back and color it a pale yellow

Examine the role of government programs in affecting market prices and distribution of economic welfare.

Understand the concepts of tax incidence and how it affects market outcomes.

Analyze factors determining the actual benefit of government subsidies.

Evaluate the effects of market interventions, such as price controls, on supply and demand and overall economic welfare.

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Definitions:

Normative Transition

Socially expected changes made by all or most members of a defined population.

Maturation

The process of development in which an individual matures or reaches a full or advanced stage of physical and emotional growth.

Birth Cohort

A group of people who were born during the same period of one or several years and who are, therefore, all exposed to particular historical events at approximately the same age.

Fixed Ratio

In operant conditioning, a schedule of reinforcement where a response is rewarded after a set number of responses.