Exam 31: Understanding Direct and Inverse Relationships between Variables

Exhibit 6A-6 Consumer equilibrium ​ As shown in Exhibit 6A-6, the marginal rate of substitution (MRS) at point X is ____ the marginal rate of substitution at point Y.

The absolute value of the slope of an indifference curve is called the:

​ A short-run aggregate supply curve (SRAS) assumes:

Exhibit 1A-5 Straight line In Exhibit 1A-5, as X increases along the horizontal axis, from point C to point D on the line, the Y values

Exhibit 3A-1 Comparison of Market Efficiency and Deadweight Loss As shown in Exhibit 3A-1, if the market is in equilibrium, then total surplus is represented by:

​ Exhibit 10A-2 Macro AD-AS Model In Exhibit 10A-2, the long-run aggregate supply curve represents:

Exhibit 16A-3  Macro AD/AS Model As shown in Exhibit 16A-3, assume the marginal propensity to consume MPC equals 0.80.  Using discretionary fiscal policy, federal government spending should be _________  in order to restore the economy from E ₁ to full employment.

If the amount of lemonade purchased and the outdoor temperature are directly related, then

Exhibit 1A-8 Straight line relationship According to the Exhibit 1A-8, the relationship between the price and quantity purchased of pizza is:

The position of the long-run aggregate supply curve corresponds to the economy's:

Exhibit 1A-9 Multi-curve graph Exhibit 1A-9 represents a three-variable relationship. As the annual income of consumers falls from $50,000 (line A) to $30,000 (line B), the result is a:

Exhibit 6A-1 Budget line ​ ​ As shown in Exhibit 6A-1, a leftward shift in the budget line from CD to AB would result from:

The short-run aggregate supply curve (SRAS) is the amount of real GDP:   ​

Which of the following pairs is the most likely to exhibit a direct relationship?

Economic growth can be represented by a (an):

When an inverse relationship is graphed, the resulting line or curve is:

Exhibit 10A-6 Aggregate demand and supply model ​ ​ Beginning from a point of short-run equilibrium at point E₂ in Exhibit 10A-6, the economy's movement to a new position of long-run equilibrium from that point would best be described as:

Exhibit 1A-2 Straight line In Exhibit 1A-2, explain the slope of straight line CD.

Economic growth is represented by a:

Exhibit 1A-7 Straight line relationship Which of the following would cause a shift in the relationship shown in Exhibit 1A-7?