Question 1

Exhibit 1-5  
-In Exhibit 1-5, curve B has a slope of

Accepted Answer

A)  0 
B)  1.25 
C)  1.33 
D)  -1.25 
E)  -1.33 
A)  0 
B)  1.25 
C)  1.33 
D)  -1.25 
E)  -1.33

Question 2

A straight line tangent to a curved line at a point

Accepted Answer

A)  crosses the curved line at that point 
B)  crosses the curved line at many points 
C)  has the same slope as the curved line at that point 
D)  is steeper than the curve at all other points 
E)  has a smaller slope than all other points on the curve 
A)  crosses the curved line at that point 
B)  crosses the curved line at many points 
C)  has the same slope as the curved line at that point 
D)  is steeper than the curve at all other points 
E)  has a smaller slope than all other points on the curve

Question 3

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

Question 4

Exhibit 1-11  
-In Exhibit 1-11, the slope of the line is

Accepted Answer

A)  negative for all values of x 
B)  positive for all values of x 
C)  never zero 
D)  first negative, then positive as x increases 
E)  first rising, then falling as x increases 
A)  negative for all values of x 
B)  positive for all values of x 
C)  never zero 
D)  first negative, then positive as x increases 
E)  first rising, then falling as x increases

Question 5

Exhibit 1-3  
-In Exhibit 1-3, for any value of x, 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 increasing 
E)  slope of line B is negative 
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 increasing 
E)  slope of line B is negative

Question 6

If x causes y, then

Accepted Answer

A)  x and y are inversely related 
B)  y is a dependent variable 
C)  other variables don't matter 
D)  y must, in turn, cause x 
E)  x and y are always in a direct relation to each other 
A)  x and y are inversely related 
B)  y is a dependent variable 
C)  other variables don't matter 
D)  y must, in turn, cause x 
E)  x and y are always in a direct relation to each other

Question 7

Exhibit 1-2  
-In Exhibit 1-2, when x is less than 10, 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 8

Exhibit 1-4  
-According to the curve in Exhibit 1-4, if P increases from $10 to $14, Q

Accepted Answer

A)  stays the same 
B)  Q increases from 6 to 8 
C)  Q increases from 6 to 10 
D)  Q decreases from 6 to 2 
E)  Q decreases from 6 to 0 
A)  stays the same 
B)  Q increases from 6 to 8 
C)  Q increases from 6 to 10 
D)  Q decreases from 6 to 2 
E)  Q decreases from 6 to 0

Question 9

A downward-sloping straight line has a decreasing slope.

Accepted Answer

A) True 
 B)False

Question 10

A graph is a

Accepted Answer

A)  lengthy, inefficient, and inconvenient way to illustrate information 
B)  diagram illustrating a relationship between variables 
C)  method of proving causation 
D)  tool for incorporating all major and minor variables in one illustration 
E)  clear way to see how the fallacy of composition works 
A)  lengthy, inefficient, and inconvenient way to illustrate information 
B)  diagram illustrating a relationship between variables 
C)  method of proving causation 
D)  tool for incorporating all major and minor variables in one illustration 
E)  clear way to see how the fallacy of composition works

Question 11

Ron weighs 150 pounds. A graph relating Ron's weight on the vertical axis to Nancy's consumption of ice cream on the horizontal axis would be

Accepted Answer

A)  a horizontal line at weight = 150 
B)  a horizontal line at weight = 0 
C)  a positively sloped line with decreasing slope 
D)  a vertical line at weight = 150 
E)  the origin 
A)  a horizontal line at weight = 150 
B)  a horizontal line at weight = 0 
C)  a positively sloped line with decreasing slope 
D)  a vertical line at weight = 150 
E)  the origin

Question 12

The slope of a line

Accepted Answer

A)  can only be calculated for straight lines 
B)  varies at different points along a straight line 
C)  indicates whether or not there is a causal relationship between variables 
D)  is independent of the units of measurement used 
E)  indicates how much the vertical variable changes for a given change in the horizontal variable 
A)  can only be calculated for straight lines 
B)  varies at different points along a straight line 
C)  indicates whether or not there is a causal relationship between variables 
D)  is independent of the units of measurement used 
E)  indicates how much the vertical variable changes for a given change in the horizontal variable

Question 13

Exhibit 1-16          
-Refer to exhibit 1-16. Which of the graphs illustrates a direct or positive relationship between variable X and variable Y?

Accepted Answer

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

Question 14

Moderate exercise is better than none, but excessive exercise is harmful. What is the shape of the graph of health benefits versus hours of exercise per week if health benefits are measured on the vertical axis and exercise is measured on the horizontal axis?

Accepted Answer

A)  a positively sloped straight line 
B)  a negatively sloped straight line 
C)  a vertical straight line 
D)  a U-shaped curve 
E)  a hill-shaped curve 
A)  a positively sloped straight line 
B)  a negatively sloped straight line 
C)  a vertical straight line 
D)  a U-shaped curve 
E)  a hill-shaped curve

Question 15

Exhibit 1-1  
-In Exhibit 1-1 the movement from point b to point c represents

Accepted Answer

A)  an increase in x of 30 units and an increase in y of 10 units 
B)  an increase in x of 10 units and an increase in y of 30 units 
C)  an increase in x of 60 units and a decrease in y of 20 units 
D)  an increase in x of 20 units and a decrease in y of 60 units 
E)  an increase in x of 20 units and a decrease in y of 30 units 
A)  an increase in x of 30 units and an increase in y of 10 units 
B)  an increase in x of 10 units and an increase in y of 30 units 
C)  an increase in x of 60 units and a decrease in y of 20 units 
D)  an increase in x of 20 units and a decrease in y of 60 units 
E)  an increase in x of 20 units and a decrease in y of 30 units

Question 16

Exhibit 1-2  
-In Exhibit 1-2, when y is greater than 12, the

Accepted Answer

A)  value of x is larger on curve A than on curve B 
B)  value of x is smaller on curve A than on curve B 
C)  value of x 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 x is larger on curve A than on curve B 
B)  value of x is smaller on curve A than on curve B 
C)  value of x 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 17

The numerical value of the slope of a line depends in part on the units of measurement used.

Accepted Answer

A) True 
 B)False

Question 18

Exhibit 1-1  
-In Exhibit 1-1, point c represents

Accepted Answer

A)  x = 30, y = 60 
B)  x = 60, y = 30 
C)  c = 90 
D)  x + y = 60 
E)  x + y = 30 
A)  x = 30, y = 60 
B)  x = 60, y = 30 
C)  c = 90 
D)  x + y = 60 
E)  x + y = 30

Question 19

One economic application of the slope of a line is

Accepted Answer

A)  measuring unlimited wants 
B)  behavioral analysis 
C)  marginal analysis 
D)  allocative efficiency 
E)  rational self-interest 
A)  measuring unlimited wants 
B)  behavioral analysis 
C)  marginal analysis 
D)  allocative efficiency 
E)  rational self-interest

Question 20

Exhibit 1-12  
-The slope of the line in Exhibit 1-12 is

Accepted Answer

A)  positive and constant 
B)  positive and increasing 
C)  positive and decreasing 
D)  negative and increasing 
E)  negative and decreasing 
A)  positive and constant 
B)  positive and increasing 
C)  positive and decreasing 
D)  negative and increasing 
E)  negative and decreasing

Exam 1: Appendix: Understanding Graphs

Exhibit 1-5 -In Exhibit 1-5, curve B has a slope of

A straight line tangent to a curved line at a point

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

Exhibit 1-11 -In Exhibit 1-11, the slope of the line is

Exhibit 1-3 -In Exhibit 1-3, for any value of x, the

If x causes y, then

Exhibit 1-2 -In Exhibit 1-2, when x is less than 10, the

Exhibit 1-4 -According to the curve in Exhibit 1-4, if P increases from $10 to $14, Q

A downward-sloping straight line has a decreasing slope.

A graph is a

Ron weighs 150 pounds. A graph relating Ron's weight on the vertical axis to Nancy's consumption of ice cream on the horizontal axis would be

The slope of a line

Exhibit 1-16 -Refer to exhibit 1-16. Which of the graphs illustrates a direct or positive relationship between variable X and variable Y?

Moderate exercise is better than none, but excessive exercise is harmful. What is the shape of the graph of health benefits versus hours of exercise per week if health benefits are measured on the vertical axis and exercise is measured on the horizontal axis?

Exhibit 1-1 -In Exhibit 1-1 the movement from point b to point c represents

Exhibit 1-2 -In Exhibit 1-2, when y is greater than 12, the

The numerical value of the slope of a line depends in part on the units of measurement used.

Exhibit 1-1 -In Exhibit 1-1, point c represents

One economic application of the slope of a line is

Exhibit 1-12 -The slope of the line in Exhibit 1-12 is

The Art and Science of Economic Analysis

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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

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Public Goods and Public Choice

Externalities and the Environment

Income Distribution and Poverty

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