Need help with macroeconomic review question! 4. Consider the following statement. “From January 2020 to September 2021, there were almost 28,000 deaths in Canada attributed to COVID-19. This is an unprecedented death toll.” What statistical (inductive) fallacy does this statement commit? (A) Correlation implies causation. (B) Biased sample. (C) Berkson’s Paradox. (D) Base Rate Fallacy. 5. Suppose that food shortages are expected in the near future. What happens to the market for farmland today? (A) Demand rises. (B) Demand declines. (C) Supply rises. (D) Supply declines. 6. Everyone with GME stock sells it at the same time. What does this do to the price of GME stock? (A) It goes up. (B) It goes down. (C) It stays the same. (D) Diamond hands.

Need help with macroeconomic review question! 4. Consider the following statement. “From January 2020 to September 2021, there were almost 28,000 deaths in Canada attributed to COVID-19. This is an unprecedented death toll.” What statistical (inductive) fallacy does this statement commit? (A) Correlation implies causation. (B) Biased sample. (C) Berkson’s Paradox. (D) Base Rate Fallacy. 5. Suppose that food shortages are expected in the near future. What happens to the market for farmland today? (A) Demand rises. (B) Demand declines. (C) Supply rises. (D) Supply declines. 6. Everyone with GME stock sells it at the same time. What does this do to the price of GME stock? (A) It goes up. (B) It goes down. (C) It stays the same. (D) Diamond hands.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter1: Welcome To Economics!

Section: Chapter Questions

Problem 26CTQ: Suppose, as an economist, you are asked to analyze an issue unlike anything you have ever done...

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