Correlation and causation can be confused in which of the following ways?
A. Correlation without causation
B. Omitted variables
C. Reverse causality
D. All of these
112.A relationship between two events in which one brings about the other is:
A. a pattern.
B. a trend.
113.When speed boat sales rise, the city of Las Vegas takes in more revenue. The omitted common variable between these outcomes is likely to be:
A. life jacket sales.
B. prices of Las Vegas flights.
C. childhood obesity.
D. increased disposable income.
114.In the past, there was a strong correlation between ice cream consumption by children and polio cases for children. There was not a causal relationship due to:
A. an omitted variable.
B. reverse causality.
C. accounting fraud practiced by Baskin Robbins.
D. an infection present in cherries.
115."Which came first, the chicken or the egg?" This question seeks to address which common source of confusion between correlation and causation?
A. Reverse causality
B. Omitted variables
C. Linear relationships
D. Comparative analysis
116.Both minivan sales and birth rates are on the rise. The conclusion that minivans cause people to have children would likely be a result of making the mistake of:
B. omitted variables.
C. correlation without causation.
D. reverse causality.
A. attempt to include every detail of the situation being studied.
B. attempt to describe a situation with perfect accuracy.
C. not be applied to microeconomics.
D. None of these.
118.A simplified representation of the important parts of a complicated situation is:
A. cutting corners.
B. a model.
C. useless without adding fine details.
119.Which is not a characteristic of a good economic model?
A. Focuses on important details
B. Predicts cause and effect
C. Builds vague assumptions
D. Describes the world accurately
120.One of the most basic models of the economy is:
A. real GDP per capita.
B. the current population survey.
C. the consumer expenditure model.
D. the circular flow model.
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