Since which year have building permits been on the rise?

Master the Audit of Construction and Real Estate Industry Exam. Engage with detailed questions, hints, and in-depth explanations. Prepare thoroughly for your audit exam today!

Multiple Choice

Since which year have building permits been on the rise?

Explanation:
Recognize trends in a time-series and pinpoint where an upward movement begins. To answer when building permits have been on the rise, look for the first year in the sequence where the permit count increases compared with the previous year and then keeps increasing in the following years. In the data shown, that turning point happens in the second year of the sequence, after which permits rise each year. That year marks the start of the rising trend, which is why it’s the best choice. Earlier years don’t show a rise, and later years just reflect the continuation after the rise started.

Recognize trends in a time-series and pinpoint where an upward movement begins. To answer when building permits have been on the rise, look for the first year in the sequence where the permit count increases compared with the previous year and then keeps increasing in the following years. In the data shown, that turning point happens in the second year of the sequence, after which permits rise each year. That year marks the start of the rising trend, which is why it’s the best choice. Earlier years don’t show a rise, and later years just reflect the continuation after the rise started.

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