Choose one of the scenarios below to analyze and answer. Your textbook readings will be a good resource for this assignment as these images and questions are from the textbook

First Choice

1. Death rate According to Median Income:

Death Rate According to Median Household Income:

Source: Analysis of federal Centers for Medicare & Medicaid Services

Did you know that 17.1% is more than double 15.6%? "Ridiculous!" you say.

1a. Explain how the graph suggests such a relationship.

1b.How could this misrepresentation be corrected?

1c. Redraw this graph to correctly show the relationship between 17.1% and 15.6%.

Second choice:

2. The pie chart is drawn correctly, but it gives an incorrect impression.Working Extra Years for Retirement

Source: Sun Life survey of 1,200 adults 30 to 66 years old. Margin of error: 3 percentage points.

2a. The area of each circle segment should be proportional to the percentage it represents. Explain how you can use the ribs of the umbrella to verify that the segments are correctly drawn.

2b. Explain why and how the graph is misrepresentative.

Third choice

What do you Plan to Spend your Tax Refund on?

Source: National Retail Federation 2009 Tax Returns Consumer Intentions and Actions survey of 8,426 consumers. Margin of error 1 percentage point.

This statistical offering is a rather clever graphic using artistic license along with bills as the bars of a bar graph. An "A for effort," as you have heard before, but the scale aspects of the graph have been compromised.

3a. Identify how and where the scale for percentage is misrepresented.

3b. If you were advising the artist, how would you have him or her adjust the bills to correct the problem described in answer to part a?

QUESTION 30 1. Table 23-6 The table below contains data for the country of Batterland, which produces only waffles an d pancakes. The base year is 2013. Year Price of Quantity of Price of Quantity of Waffles Waffles Pancakes Pancakes 2010 $2.00 80 $1.00 100 2011 $2.00 100 $2.00 120 2012 $2.00 120 $3.00 150 2013 $4.00 150 $3.00 200 Refer to Table 23-6. In 2010, this country's nominal GDP was $260 $440 $620 $760 QUESTION 31 Sheri, a U.S. citizen, works only in Germany. The value she adds to production in Germany i +'s included in both German GDP and U.S. GDP in German GDP, but is not included in U.S. GDP ET C in U.S. GDP, but is not included in German GDP in neither German GDP nor U.S. GDP QUESTION 32 Disposable personal income is the income that "households have left after paying taxes and non-tax payments to the government businesses have left after paying taxes and non-tax payments to the government households and noncorporate businesses have left after paying taxes and non- tax payments to the government households and businesses have left after paying taxes and non- tax payments to the government QUESTION 33 Gross domestic product adds together many different kinds of goods and services into a singl e measure of the value of economic activity. To do this, GDP makes use of C market prices " statistical estimates of the value of goods and services to consumers. prices based on the assumption that producers make no profits the maximum amount consumers would be willing to payQUESTION 14 Which of the following is a goal of monetary policy? A. Maintain full employment. OB. Promote faster long-term economic growth. O C. Keep inflation in check. O D. All of the choices are correct.Question 35 (1 point) What do we know about regulation of a firm in a monopolistically competitive market? It usually implies a very small administrative burden. It will lower the firm's costs. It is commonly used to enhance market efficiency. It is unlikely to improve market efficiency. Question 36 (1 point) What type of externalities accompany the entry of new firms into a monopolistically competitive market? the product-variety externality as a positive externality and the business-stealing externality as a negative externality the product-variety externality as a negative externality and the business-stealing externality as a positive externality the business-variety externality as a positive externality and the product-stealing externality as a negative externality O the business-variety externality as a negative externality and the product-stealing externality as a positive externalityQuestion 2 Complete the following table for a given country and show how can you determine if the country faces an inflation in 2018? Nominal GOP2017 Nominal GDP 2014 Real GDPXD18 P P Q P C 2 A I 3 3 3 R GOP Question 3 - What is the purchasing power of (1000) Rails after (7) years if the inflation rate is (4%) per year? What are the similarity and difference between "Minimum Wage Laws" and "Theory Of Efficiency Wages"? Question 4 A theatre that sells a ticket for a comedy show. The ticket price is 3 Rials to have a seat and watch the show. There is a snack to be given to each ticket buyer that cost 1 Rial. Now, consider this scenario: There are about 50 seats that are not sold and the show is few minutes to start and there is a standby customer willing to buy the ticket by price less than 3. What is the minimum price the theater can offer? Explain the logic about your answer. Question 5 A government is trying to reduce inflation but this has led to higher unemployment. Explain the role of the prices stickiness in causing this tradeoffs