Question 1

The slope of a U-shaped curve is infinity at the bottom of the U.

Accepted Answer

A) True 
 B)False

Question 2

A line is tangent to a curve if it

Accepted Answer

A)  crosses the curve at one point 
B)  touches the curve at one point, without crossing it 
C)  crosses the curve at a minimum of two points 
D)  never touches the curve 
E)  forms a right triangle with the curve 
A)  crosses the curve at one point 
B)  touches the curve at one point, without crossing it 
C)  crosses the curve at a minimum of two points 
D)  never touches the curve 
E)  forms a right triangle with the curve

Question 3

Exhibit 1-8  
-The slope of a horizontal line is

Accepted Answer

A)  infinitely large 
B)  zero 
C)  positive 
D)  negative 
E)  infinitely small 
A)  infinitely large 
B)  zero 
C)  positive 
D)  negative 
E)  infinitely small

Question 4

Exhibit 1-6  
-The slope of a line is defined as the

Accepted Answer

A)  change in the value of the variable on the vertical axis divided by the change in the value of the variable on the horizontal axis 
B)  value of the variable on the horizontal axis divided by the value of the intercept on the vertical axis 
C)  change in the value of the variable on the horizontal axis divided by the increase in the value of the variable on the vertical axis 
D)  value of the variable on the vertical axis divided by the value of the variable on the horizontal axis 
E)  change in the value of the variable on the vertical axis times the increase in the value of the variable on the horizontal axis 
A)  change in the value of the variable on the vertical axis divided by the change in the value of the variable on the horizontal axis 
B)  value of the variable on the horizontal axis divided by the value of the intercept on the vertical axis 
C)  change in the value of the variable on the horizontal axis divided by the increase in the value of the variable on the vertical axis 
D)  value of the variable on the vertical axis divided by the value of the variable on the horizontal axis 
E)  change in the value of the variable on the vertical axis times the increase in the value of the variable on the horizontal axis

Question 5

Exhibit 1-16          
-Refer to Exhibit 1-16. Which graph illustrates a positive relationship between variable X and variable Y initially but then a negative relationship?

Accepted Answer

A)  a 
B)  b 
C)  c 
D)  d 
E)  e 
A)  a 
B)  b 
C)  c 
D)  d 
E)  e

Question 6

The slope of a steep upward-sloping line is a smaller value than the slope of a nearly flat upward-sloping line.

Accepted Answer

A) True 
 B)False

Question 7

A curved line may have a positive slope or a negative slope, but it cannot have both positive and negative areas of slope.

Accepted Answer

A) True 
 B)False

Question 8

Suppose the cost of producing copper tubing is $1 per foot. If production costs were measured on the vertical axis and quantity of copper tubing were measured on the horizontal axis, which of the following lines would have the smallest slope?

Accepted Answer

A)  a line representing the quantity of tubing measured in inches 
B)  a line representing the quantity of tubing measured in feet 
C)  a line representing the quantity of tubing measured in yards 
D)  the 45-degree line 
E)  any vertical line 
A)  a line representing the quantity of tubing measured in inches 
B)  a line representing the quantity of tubing measured in feet 
C)  a line representing the quantity of tubing measured in yards 
D)  the 45-degree line 
E)  any vertical line

Question 9

A U-shaped curve has a positive slope everywhere.

Accepted Answer

A) True 
 B)False

Question 10

If the dependent variable Y is directly related to the independent variable X, this means that changes in X cause changes in Y.

Accepted Answer

A) True 
 B)False

Question 11

The statement that there is a direct relation between x and y means that

Accepted Answer

A)  x and y move in the same direction 
B)  x causes y 
C)  y causes x 
D)  either y causes x or x causes y 
E)  the causal connection between x and y is immediate 
A)  x and y move in the same direction 
B)  x causes y 
C)  y causes x 
D)  either y causes x or x causes y 
E)  the causal connection between x and y is immediate

Question 12

Exhibit 1-2  
-In Exhibit 1-2, at x = 12, the

Accepted Answer

A)  value of y is larger on curve A than on curve B 
B)  value of y is smaller on curve A than on curve B 
C)  value of y is the same on curve A as on curve B 
D)  slope of line A is negative 
E)  slope of line B is positive 
A)  value of y is larger on curve A than on curve B 
B)  value of y is smaller on curve A than on curve B 
C)  value of y is the same on curve A as on curve B 
D)  slope of line A is negative 
E)  slope of line B is positive

Question 13

Exhibit 1-14  
-Using Exhibit 1-14, calculate the slope of the curve where x equals 50.

Accepted Answer

A)  0 
B)  1 
C)  infinite 
D)  -1 
E)  the slope cannot be determined because there is no tangent line 
A)  0 
B)  1 
C)  infinite 
D)  -1 
E)  the slope cannot be determined because there is no tangent line

Question 14

On a graph, the origin represents

Accepted Answer

A)  the dependent variable 
B)  the variable that is the primary source of causation 
C)  a caption or explanatory description of the symbols, colors, and measurements used on the graph 
D)  the point at which the values of both variables are zero 
E)  ancestry 
A)  the dependent variable 
B)  the variable that is the primary source of causation 
C)  a caption or explanatory description of the symbols, colors, and measurements used on the graph 
D)  the point at which the values of both variables are zero 
E)  ancestry

Question 15

The slope of an inverted U-shaped curve is infinity at the top of the curve.

Accepted Answer

A) True 
 B)False

Question 16

Exhibit 1-7  
-The slope of the straight line in Exhibit 1-7 is

Accepted Answer

A)  greater at point a than at point b 
B)  the same at points a and b 
C)  zero because the line is straight 
D)  negative because an inverse relation is shown 
E)  positive because the line lies to the right of the y-axis 
A)  greater at point a than at point b 
B)  the same at points a and b 
C)  zero because the line is straight 
D)  negative because an inverse relation is shown 
E)  positive because the line lies to the right of the y-axis

Question 17

If slope = -2 for a line on a graph with x on the horizontal axis and y on the vertical axis, then if

Accepted Answer

A)  x increases by 4, y increases by 8 
B)  x increases by 4, y increases by 2 
C)  y increases by 4, x increases by 8 
D)  x = 4, y = 8 
E)  x increases by 4, y decreases by 8 
A)  x increases by 4, y increases by 8 
B)  x increases by 4, y increases by 2 
C)  y increases by 4, x increases by 8 
D)  x = 4, y = 8 
E)  x increases by 4, y decreases by 8

Question 18

The statement that there is an inverse relationship between x and y means that

Accepted Answer

A)  x causes y 
B)  y causes x 
C)  x and y move in opposite directions 
D)  either y causes x or x causes y 
E)  there is no causal relationship between x and y 
A)  x causes y 
B)  y causes x 
C)  x and y move in opposite directions 
D)  either y causes x or x causes y 
E)  there is no causal relationship between x and y

Question 19

Exhibit 1-5  
-In Exhibit 1-5, curve B has a __________ slope that is __________ at every point.

Accepted Answer

A)  positive; constant 
B)  positive; changing 
C)  negative; constant 
D)  negative; changing 
E)  changing; constant 
A)  positive; constant 
B)  positive; changing 
C)  negative; constant 
D)  negative; changing 
E)  changing; constant

Question 20

A functional relationship exists between two variables if the value of one variable depends on the value of the other variable.

Accepted Answer

A) True 
 B)False

Exam 1: Appendix: Understanding Graphs

The slope of a U-shaped curve is infinity at the bottom of the U.

A line is tangent to a curve if it

Exhibit 1-8 -The slope of a horizontal line is

Exhibit 1-6 -The slope of a line is defined as the

Exhibit 1-16 -Refer to Exhibit 1-16. Which graph illustrates a positive relationship between variable X and variable Y initially but then a negative relationship?

The slope of a steep upward-sloping line is a smaller value than the slope of a nearly flat upward-sloping line.

A curved line may have a positive slope or a negative slope, but it cannot have both positive and negative areas of slope.

Suppose the cost of producing copper tubing is $1 per foot. If production costs were measured on the vertical axis and quantity of copper tubing were measured on the horizontal axis, which of the following lines would have the smallest slope?

A U-shaped curve has a positive slope everywhere.

If the dependent variable Y is directly related to the independent variable X, this means that changes in X cause changes in Y.

The statement that there is a direct relation between x and y means that

Exhibit 1-2 -In Exhibit 1-2, at x = 12, the

Exhibit 1-14 -Using Exhibit 1-14, calculate the slope of the curve where x equals 50.

On a graph, the origin represents

The slope of an inverted U-shaped curve is infinity at the top of the curve.

Exhibit 1-7 -The slope of the straight line in Exhibit 1-7 is

If slope = -2 for a line on a graph with x on the horizontal axis and y on the vertical axis, then if

The statement that there is an inverse relationship between x and y means that

Exhibit 1-5 -In Exhibit 1-5, curve B has a __________ slope that is __________ at every point.

A functional relationship exists between two variables if the value of one variable depends on the value of the other variable.

The Art and Science of Economic Analysis

Economic Tools and Economics Systems

Economic Decision Makers

Demand, Supply, and Markets

Elasticity of Demand and Supply

Appendix: price Elasticity and Tax Incidence

Consumer Choice and Demand

Appendix: Indifference Curves and Utility Maximization

Production and Cost in the Firm

Appendix: a Closer Look at Production and Cost

A: perfect Competition

B: perfect Competition

A: monopoly

B: Monopoly

Monopolistic Competition and Oligopoly

Resource Markets

Labor Markets and Labor Unions

Capital, Interest, and Corporate Finance

Transaction Costs, Imperfect Information, and Behavioral Economics

Economic Regulation and Antitrust Policy

Public Goods and Public Choice

Externalities and the Environment

Income Distribution and Poverty

International Trade

International Finance

Economic Development

Filters

Exhibit 1-5 -In Exhibit 1-5, curve B has a slope that is at every point.