Question 1

When unskilled teens earn less than university graduates,society answers the ________ question.

Accepted Answer

A) for whom 
B) how 
C) social interest versus self-interest 
D) what 
E) why 
A) for whom 
B) how 
C) social interest versus self-interest 
D) what 
E) why

Question 2

The slope of the line shown in the above figure is

Accepted Answer

A) 5/2. 
B) 5. 
C) 2. 
D) 2/5. 
E) 2/3. 
A) 5/2. 
B) 5. 
C) 2. 
D) 2/5. 
E) 2/3.

Question 3

An independent relationship between two variables is shown in a graph by

Accepted Answer

A) an upward-sloping line. 
B) a downward-sloping line. 
C) a horizontal or a vertical line. 
D) any straight-line curve. 
E) a steeply sloped line. 
A) an upward-sloping line. 
B) a downward-sloping line. 
C) a horizontal or a vertical line. 
D) any straight-line curve. 
E) a steeply sloped line.

Question 4

-In the above figure,which of the figures show a relationship between x and y with a negative slope?

Accepted Answer

A) Figure A 
B) Figure B 
C) Figure C 
D) Figure D 
E) Both Figure A and Figure B 
A) Figure A 
B) Figure B 
C) Figure C 
D) Figure D 
E) Both Figure A and Figure B

Question 5

-In the figure above,suppose the price of a kilogram of pecans is negatively related to the quantity of peanuts that farmers are willing to supply.If the price of pecans increases,

Accepted Answer

A) the curve will shift rightward. 
B) there is a movement along the curve. 
C) the curve will shift leftward. 
D) the curve will be unaffected. 
E) None of the above answers is correct because the graph assumes that the price of pecans does not change. 
A) the curve will shift rightward. 
B) there is a movement along the curve. 
C) the curve will shift leftward. 
D) the curve will be unaffected. 
E) None of the above answers is correct because the graph assumes that the price of pecans does not change.

Question 6

As a person increases his or her caloric intake,the person's weight increases,ceteris paribus.The relationship between the person's caloric intake and the person's weight is an example of

Accepted Answer

A) a trended relationship. 
B) a positive relationship. 
C) a single point on a graph. 
D) unrelated variables. 
E) a negative relationship. 
A) a trended relationship. 
B) a positive relationship. 
C) a single point on a graph. 
D) unrelated variables. 
E) a negative relationship.

Question 7

When an electricity distribution company decides to use manpower to bury its lines,it directly answers the ________ question.

Accepted Answer

A) for whom 
B) when 
C) why 
D) what 
E) how 
A) for whom 
B) when 
C) why 
D) what 
E) how

Question 8

Whenever one variable increases,another variable decreases.The two variables are

Accepted Answer

A) negatively related. 
B) positively related. 
C) definitely related through a third variable. 
D) unrelated to each other. 
E) related but whether positively or negatively related depends on which variable is plotted on the vertical axis. 
A) negatively related. 
B) positively related. 
C) definitely related through a third variable. 
D) unrelated to each other. 
E) related but whether positively or negatively related depends on which variable is plotted on the vertical axis.

Question 9

If the marginal benefit of getting a university degree rises,rational people will

Accepted Answer

A) require that university get easier. 
B) not change their behaviour. 
C) attend university in greater numbers. 
D) raise the marginal cost of attending university. 
E) drop out of university. 
A) require that university get easier. 
B) not change their behaviour. 
C) attend university in greater numbers. 
D) raise the marginal cost of attending university. 
E) drop out of university.

Question 10

A choice made by comparing all relevant alternatives systematically and incrementally is

Accepted Answer

A) a sunk cost. 
B) a choice on the margin. 
C) a choice made in the social interest. 
D) a benefit. 
E) an opportunity cost. 
A) a sunk cost. 
B) a choice on the margin. 
C) a choice made in the social interest. 
D) a benefit. 
E) an opportunity cost.

Question 11

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

Accepted Answer

A) an economic theory. 
B) a statement on the margin. 
C) a correlation. 
D) an incentive to win the game. 
E) a normative statement. 
A) an economic theory. 
B) a statement on the margin. 
C) a correlation. 
D) an incentive to win the game. 
E) a normative statement.

Question 12

A graph that shows how the amount of advertising expenditure differs among various industries can be shown

Accepted Answer

A) by a scatter diagram. 
B) by a trend-section graph. 
C) as a trend. 
D) by a cross-section graph. 
E) by a time-series graph. 
A) by a scatter diagram. 
B) by a trend-section graph. 
C) as a trend. 
D) by a cross-section graph. 
E) by a time-series graph.

Question 13

If the change in y = 10 and the change in x = 3,there is

Accepted Answer

A) an independent relationship between y and x. 
B) a +0.33 relationship between the two variables. 
C) a negative relationship between y and x. 
D) a positive relationship between y and x. 
E) no relationship between y and x. 
A) an independent relationship between y and x. 
B) a +0.33 relationship between the two variables. 
C) a negative relationship between y and x. 
D) a positive relationship between y and x. 
E) no relationship between y and x.

Question 14

The benefit from a good or service that you purchase is measured by

Accepted Answer

A) how strong the incentives were that led to buying the good or service. 
B) the dollar amount you can get by selling the good or service. 
C) what you are willing to give up to obtain the good or service. 
D) the dollar amount paid for the good or service. 
E) None of the above answers is correct because there is no way to measure the benefit you receive from purchasing a good or service. 
A) how strong the incentives were that led to buying the good or service. 
B) the dollar amount you can get by selling the good or service. 
C) what you are willing to give up to obtain the good or service. 
D) the dollar amount paid for the good or service. 
E) None of the above answers is correct because there is no way to measure the benefit you receive from purchasing a good or service.

Question 15

The figure above shows the relationship between the time a student spends studying and the student's GPA that semester.The slope of the relationship at point A equals

Accepted Answer

A) 1/20. 
B) 3/20. 
C) 3. 
D) 0. 
E) 2/20. 
A) 1/20. 
B) 3/20. 
C) 3. 
D) 0. 
E) 2/20.

Question 16

In the figure above,between points A and B,what is the slope of the line?

Accepted Answer

A) 0 
B) -3 
C) 4 
D) 1 
E) 3 
A) 0 
B) -3 
C) 4 
D) 1 
E) 3

Question 17

Amy can study for an hour or spend that hour sleeping or going out for dinner.If she decides to study for the hour,the opportunity cost of the hour spent studying is

Accepted Answer

A) definitely going out to dinner because she must eat at some time. 
B) sleeping or going out for dinner,whichever she would have preferred the most. 
C) studying,since this is the choice she opted for. 
D) definitely going to sleep. 
E) sleeping and going out for dinner. 
A) definitely going out to dinner because she must eat at some time. 
B) sleeping or going out for dinner,whichever she would have preferred the most. 
C) studying,since this is the choice she opted for. 
D) definitely going to sleep. 
E) sleeping and going out for dinner.

Question 18

-In the above figure,no relationship between x and y is shown in Figure

Accepted Answer

A) A. 
B) B. 
C) C. 
D) D. 
E) A and Figure B. 
A) A. 
B) B. 
C) C. 
D) D. 
E) A and Figure B.

Question 19

With y measured on the vertical axis and x measured on the horizontal axis,the slope of a straight line is defined as

Accepted Answer

A) x/y. 
B) y - x. 
C) (change in x)/(change in y). 
D) y/x. 
E) (change in y)/(change in x). 
A) x/y. 
B) y - x. 
C) (change in x)/(change in y). 
D) y/x. 
E) (change in y)/(change in x).

Question 20

The slope of the line shown in the above figure is

Accepted Answer

A) -1 2/3. 
B) -0.80. 
C) -1.25. 
D) 5. 
E) -1 1/3. 
A) -1 2/3. 
B) -0.80. 
C) -1.25. 
D) 5. 
E) -1 1/3.

When unskilled teens earn less than university graduates,society answers the ________ question.

The slope of the line shown in the above figure is

An independent relationship between two variables is shown in a graph by

-In the above figure,which of the figures show a relationship between x and y with a negative slope?

-In the figure above,suppose the price of a kilogram of pecans is negatively related to the quantity of peanuts that farmers are willing to supply.If the price of pecans increases,

As a person increases his or her caloric intake,the person's weight increases,ceteris paribus.The relationship between the person's caloric intake and the person's weight is an example of

When an electricity distribution company decides to use manpower to bury its lines,it directly answers the ________ question.

Whenever one variable increases,another variable decreases.The two variables are

If the marginal benefit of getting a university degree rises,rational people will

A choice made by comparing all relevant alternatives systematically and incrementally is

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

A graph that shows how the amount of advertising expenditure differs among various industries can be shown

If the change in y = 10 and the change in x = 3,there is

The benefit from a good or service that you purchase is measured by

The figure above shows the relationship between the time a student spends studying and the student's GPA that semester.The slope of the relationship at point A equals

In the figure above,between points A and B,what is the slope of the line?

Amy can study for an hour or spend that hour sleeping or going out for dinner.If she decides to study for the hour,the opportunity cost of the hour spent studying is

-In the above figure,no relationship between x and y is shown in Figure

With y measured on the vertical axis and x measured on the horizontal axis,the slope of a straight line is defined as

The slope of the line shown in the above figure is

The Australian and Global Economies

The Economic Problem

Demand and Supply

Gdp: a Measure of Total Production and Income

Jobs and Unemployment

The Cpi and the Cost of Living

Economic Growth

Finance,saving and Investment

Money,the Price Level and Inflation

Aggregate Supply and Aggregate Demand

Aggregate Expenditure Multiplier

The Short-Run Policy Trade Off

Fiscal Policy

Monetary Policy

International Trade Policy

International Finance

Filters

Exam 1: Getting Started

When unskilled teens earn less than university graduates,society answers the ________ question.

The slope of the line shown in the above figure is

An independent relationship between two variables is shown in a graph by

-In the above figure,which of the figures show a relationship between x and y with a negative slope?

-In the figure above,suppose the price of a kilogram of pecans is negatively related to the quantity of peanuts that farmers are willing to supply.If the price of pecans increases,

As a person increases his or her caloric intake,the person's weight increases,ceteris paribus.The relationship between the person's caloric intake and the person's weight is an example of

When an electricity distribution company decides to use manpower to bury its lines,it directly answers the ________ question.

Whenever one variable increases,another variable decreases.The two variables are

If the marginal benefit of getting a university degree rises,rational people will

A choice made by comparing all relevant alternatives systematically and incrementally is

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

A graph that shows how the amount of advertising expenditure differs among various industries can be shown

If the change in y = 10 and the change in x = 3,there is

The benefit from a good or service that you purchase is measured by

The figure above shows the relationship between the time a student spends studying and the student's GPA that semester.The slope of the relationship at point A equals

In the figure above,between points A and B,what is the slope of the line?

Amy can study for an hour or spend that hour sleeping or going out for dinner.If she decides to study for the hour,the opportunity cost of the hour spent studying is

-In the above figure,no relationship between x and y is shown in Figure

With y measured on the vertical axis and x measured on the horizontal axis,the slope of a straight line is defined as

The slope of the line shown in the above figure is

The Australian and Global Economies

The Economic Problem

Demand and Supply

Gdp: a Measure of Total Production and Income

Jobs and Unemployment

The Cpi and the Cost of Living

Economic Growth

Finance,saving and Investment

Money,the Price Level and Inflation

Aggregate Supply and Aggregate Demand

Aggregate Expenditure Multiplier

The Short-Run Policy Trade Off

Fiscal Policy

Monetary Policy

International Trade Policy

International Finance

Filters