Exam 1: Getting Started

In the figure above, the relationship between the x variable and the y variable

When the Adelaide Crows score more than 100 points in a home game, they win the game. This is an example of

The opportunity cost of a decision is measured in terms of

Demonstrating how an economic variable changes from one year to the next is best illustrated by a

The slope of the curve at point B

Correlation means:

Which of the following BEST describes macroeconomics?

A cross-section graph:

Which of the following is a microeconomic issue?

Matthew has eaten two hamburgers and is considering a third. The marginal benefit in his decision is the pleasure from consuming

A curve with a positive but decreasing slope represents a relationship where, every time the variable measured along the horizontal axis increases by one unit, the variable measured along the vertical axis

Which type of economic graph reveals trends in data?

In order to determine whether to major in economics, a rational individual compares the ________ of the decision.

Australia has a universal health care system called Medicare, so that everyone, regardless of their ability to pay, has some access to health care. Based on this observation, Australia has decided that 'everyone, regardless of their ability to pay' is the answer to what microeconomic question?

Scarcity forces people to:

In the above figure, the diagram shows

Which of the following statements is correct?

When Tesla decides to increase production of electric cars, it directly answers the ________ question.

Matt pays a $50 a month membership fee at Bruno's Gym. He can exercise at the gym as many times as he wishes. If the membership fee is measured along the vertical axis and the number of times he exercises is measured along the horizontal axis, the graph between his membership fee and the number of times he exercises will

An incentive is