Exam 1: Introduction: What Is Economics

An example of analysis that involves variables and how they affect one another would include the relationship of the price of CDs to the quantity of CDs purchased.

(True/False)

4.8/5

(33)

Question 101

There is a negative relationship between two variables if the two variables:

(Multiple Choice)

4.8/5

(39)

Question 102

If you use the midpoint method to describe the change in the number of lanes from 1 to 2,then the percent change you would calculate is:

(Multiple Choice)

4.8/5

(48)

Question 103

A student has a D grade average in her accounting course and a B grade average in her economics course.She decides to study an extra hour for her accounting exam and one less hour for her economics exam hoping to improve her accounting grade while not hurting her economics grade.This is an example of:

(Multiple Choice)

4.9/5

(37)

Question 104

When a student is thinking at the margin,he analyzes how many more points he would get on his economics final exam if he devotes one more hour for studying.

(True/False)

5.0/5

(29)

Question 105

Figure 1.1 -Refer to Figure 1.1.The relationship between hours worked and income,as shown by the graph in Figure 1.1 is:

(Multiple Choice)

5.0/5

(28)

Question 106

To think at the margin means to consider:

(Multiple Choice)

4.9/5

(28)

Question 107

Using assumptions to make things simpler and focus attention on what really matters is like using a road map to plan a trip.

(True/False)

4.8/5

(37)

Question 108

Scarcity can best be defined as a situation in which:

(Multiple Choice)

4.9/5

(34)

Question 109

Markets do not determine the quantity of goods sold,only the price.

(True/False)

4.7/5

(40)

Question 110

Imagine that an upward sloping line is depicted in a graph with income per week on the y-axis and hours worked per week on the x-axis.From the graph,we can conclude that:

(Multiple Choice)

4.9/5

(42)

Question 111

Economists will never reach the same conclusions in their positive analyses.

(True/False)

4.7/5

(41)

Question 112

Ceteris paribus is the Latin expression meaning:

(Multiple Choice)

4.9/5

(33)

Question 113

According to the Application,giving subsidies for the purchase of hybrid vehicles was the most efficient way for the government to reduce CO2 emissions.

(True/False)

4.7/5

(40)

Question 114

Explain three ways we can use microeconomics analysis.

(Essay)

4.9/5

(33)

Question 115

Microeconomic analysis can be used to:

(Multiple Choice)

4.8/5

(29)

Question 116

Economics tells us what to choose given the tradeoffs.

(True/False)

4.9/5

(35)

Question 117

Economics is best defined as the study of:

(Multiple Choice)

4.8/5

(35)

Question 118

Economists have found that as a nation's economy grows:

(Multiple Choice)

4.9/5

(36)

Question 119

Which of the following did NOT directly cause the worldwide recession in 2007-2008?

(Multiple Choice)

4.8/5

(41)

Question 120

Showing 101 - 120 of 163

An example of analysis that involves variables and how they affect one another would include the relationship of the price of CDs to the quantity of CDs purchased.

There is a negative relationship between two variables if the two variables:

If you use the midpoint method to describe the change in the number of lanes from 1 to 2,then the percent change you would calculate is:

When a student is thinking at the margin,he analyzes how many more points he would get on his economics final exam if he devotes one more hour for studying.

Figure 1.1 -Refer to Figure 1.1.The relationship between hours worked and income,as shown by the graph in Figure 1.1 is:

To think at the margin means to consider:

Using assumptions to make things simpler and focus attention on what really matters is like using a road map to plan a trip.

Scarcity can best be defined as a situation in which:

Markets do not determine the quantity of goods sold,only the price.

Imagine that an upward sloping line is depicted in a graph with income per week on the y-axis and hours worked per week on the x-axis.From the graph,we can conclude that:

Economists will never reach the same conclusions in their positive analyses.

Ceteris paribus is the Latin expression meaning:

According to the Application,giving subsidies for the purchase of hybrid vehicles was the most efficient way for the government to reduce CO2 emissions.

Explain three ways we can use microeconomics analysis.

Microeconomic analysis can be used to:

Economics tells us what to choose given the tradeoffs.

Economics is best defined as the study of:

Economists have found that as a nation's economy grows:

Which of the following did NOT directly cause the worldwide recession in 2007-2008?

The Key Principles of Economics

Exchange and Markets

Demand, supply, and Market Equilibrium

Elasticity: a Measure of Responsiveness

Market Efficiency and Government Intervention

Consumer Choice: Utility Theory and Insights From Neuroscience

Production Technology and Cost

Perfect Competition

Monopoly and Price Discrimination

Market Entry and Monopolistic Competition

Oligopoly and Strategic Behavior

Controlling Market Power: Antitrust and Regulation

Imperfect Information: Adverse Selection and Moral Hazard

Public Goods and Public Choice

External Costs and Environmental Policy

The Labor Market and the Distribution of Income

International Trade and Public Policy

Filters