Figure 48.1 -Using Figure 48.1, Modeling the Attacks of September 11, 2001

question 28

Multiple Choice

Figure 48.1
-Using Figure 48.1, modeling the attacks of September 11, 2001 you would show the impact of reduced consumer confidence by using

• A)Panel 1 only with a shift from AD_A to AD_B.
• B)Panel 1 only with a shift from AD_B to AD_A.
• C)Panel 2 only with a shift from AS_A to AS_B.
• D)Panel 1 to model the aggregate demand shock (AD_B to AD_A)and Panel 2 to model the aggregate supply shock (AS_B to AS_A).

Understand the fallacy of appeal to authority and when an authority is not qualified.

Recognize the significance of an expert's objectivity in strengthening their testimony.

Understand the principles behind the appeal to majority and its logical shortcomings.

Comprehend the concept and implications of the appeal to force (argumentum ad baculum).

---

Definitions:

Systematic Component

The part of a process or model that can be directly explained by variables within the system, leading to predictable outcomes.

Seasonal Factor

Variations in demand, supply, or other business indicators that occur at specific times of the year.

Forecasting Method

A process used to predict future values based on past and present data, often utilized in finance, weather prediction, and supply chain management.

Systematic Component

The part of a process or series that can be directly linked to specific casual factors, showing predictable patterns over time.