Question 1

Exhibit 1-2   In Exhibit 1-2, at y = 14, 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 2

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 3

Exhibit 1-5   In Exhibit 1-5, curve A 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 4

Exhibit 1-1   In Exhibit 1-1 the movement from point a to point b 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 5

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 6

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 7

Exhibit 1-4   According to the curve in Exhibit 1-4,

Accepted Answer

A) if P = $8, then Q = 8 
B) if P = $10, then Q = 10 
C) Q increases as P increases 
D) Q decreases as P decreases 
E) there is a positive relation between Q and P 
A) if P = $8, then Q = 8 
B) if P = $10, then Q = 10 
C) Q increases as P increases 
D) Q decreases as P decreases 
E) there is a positive relation between Q and P

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

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 10

On a graph with x on the horizontal axis and y on the vertical axis, the origin is

Accepted Answer

A) the point where x = 0 and y = 0 
B) any point where x = 0 
C) any point where y = 0 
D) where a curve intersects the vertical axis 
E) where a curve intersects the horizontal axis 
A) the point where x = 0 and y = 0 
B) any point where x = 0 
C) any point where y = 0 
D) where a curve intersects the vertical axis 
E) where a curve intersects the horizontal axis

Question 11

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 12

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 13

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 14

Suppose a graph with Ron's weight on the vertical axis and his consumption of ice cream on the horizontal axis indicated that for each serving of ice cream he ate, Ron would gain 3 pounds, regardless of how much ice cream he had already eaten.This graph would show a

Accepted Answer

A) horizontal line at weight = 3 
B) straight line with slope = 3 
C) straight line with slope = 1/2 
D) straight line with slope = -3 
E) straight line with slope = -1/3 
A) horizontal line at weight = 3 
B) straight line with slope = 3 
C) straight line with slope = 1/2 
D) straight line with slope = -3 
E) straight line with slope = -1/3

Question 15

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 16

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 17

A U-shaped curve has a positive slope everywhere.

Accepted Answer

A) True 
 B)False

Question 18

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 19

The slope of a horizontal straight line is infinity.

Accepted Answer

A) True 
 B)False

Question 20

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

Exam 1: Appendix--Understanding Graphs

Exhibit 1-2 In Exhibit 1-2, at y = 14, the

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

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

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

A graph is a

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

Exhibit 1-4 According to the curve in Exhibit 1-4,

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

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

On a graph with x on the horizontal axis and y on the vertical axis, the origin is

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

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

Suppose a graph with Ron's weight on the vertical axis and his consumption of ice cream on the horizontal axis indicated that for each serving of ice cream he ate, Ron would gain 3 pounds, regardless of how much ice cream he had already eaten.This graph would show 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

If x causes y, then

A U-shaped curve has a positive slope everywhere.

On a graph, the origin represents

The slope of a horizontal straight line is infinity.

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

The Art and Science of Economic Analysis

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Elasticity of Demand and Supply

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Appendix--Indifference Curves and Utility Maximization

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A--Perfect Competition

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A--Monopoly

B--Monopoly

Monopolistic Competition and Oligopoly

Resource Markets

Labor Markets and Labor Unions

Capital, Interest, and Corporate Finance

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