Exam 1: Getting Started

We are investigating the relationship among three variables.We have graphed two of them.Suppose that the variable that is not measured on the x-axis or the y-axis changes.Then,there is

A steep slope in a time-series graph means the variable is

Which type of graph is most useful in determining if two variables are correlated?

Moving from left to right,a U-shaped curve starts with a

Which of the following is a microeconomic issue?

On a graph showing the relationship between x and y,the ceteris paribus condition implies that

Which economic question depends on the incomes that people earn and the prices they pay for goods and services?

When an AFL player earns more than a police officer,society answers the ________ question.

When analysing graphically the relationship between more than two variables,which of the following must be used?

The question 'should we produce houses using bricks or wood? ' is an example of a ________ question.

In making your decision whether to spend a week on the Gold Coast during the mid-semester break,you compare all the other activities you could undertake.As a result,you

What is NOT true about rational choice?

If two variables are positively related,then

A time-series graph

Which of the following is a microeconomic topic?

When a home builder decides to computerise all of his production schedule,it directly answers the ________ question.

The marginal cost of an activity ________ as you do more of it.

If a small change in the x variable results in a large change in the y variable,the curve will be

Which of the following statements is a normative statement?

The question of 'What goods and services get produced? ' most closely relates to which of the following issues?