Question 1

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

Accepted Answer

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

Question 2

-What is the slope of the line in the graph?

Accepted Answer

A)  +1/2 
B)  -1/2 
C)  + 2 
D)  -2 
E)  -3/4 
A)  +1/2 
B)  -1/2 
C)  + 2 
D)  -2 
E)  -3/4

Question 3

If the change in y = -4 and the change in x = 2, there is

Accepted Answer

A)  an independent relationship between y and x. 
B)  a positive relationship between y and x. 
C)  a negative relationship between y and x. 
D)  no relationship between y and x. 
E)  a relationship between x and y but more information is needed to determine if it is a negative or positive relationship. 
A)  an independent relationship between y and x. 
B)  a positive relationship between y and x. 
C)  a negative relationship between y and x. 
D)  no relationship between y and x. 
E)  a relationship between x and y but more information is needed to determine if it is a negative or positive relationship.

Question 4

Pumpkins are grown in New Mexico with the aid of fertilizer.Hence, fertilizer is a partial answer to which of the three economic question?

Accepted Answer

Fertilizer is used to help pro

Question 5

A graph of the value of one variable against the value of another variable is known as a

Accepted Answer

A)  two-dimensional graph. 
B)  three-dimensional graph. 
C)  time-series graph. 
D)  scatter diagram. 
E)  two-variable graph. 
A)  two-dimensional graph. 
B)  three-dimensional graph. 
C)  time-series graph. 
D)  scatter diagram. 
E)  two-variable graph.

Question 6

-In the above figure, which of the figures show(s) a relationships between x and y with a positive slope?

Accepted Answer

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

Question 7

-In the diagram above, which figure(s) show(s) no relationship between the variables?

Accepted Answer

A)  both B and C 
B)  only B 
C)  both A and C 
D)  only D 
E)  both A and B 
A)  both B and C 
B)  only B 
C)  both A and C 
D)  only D 
E)  both A and B

Question 8

Which of the following is a normative statement?

Accepted Answer

A)  Flood victims should pay for their own rebuilding. 
B)  When the price of kiwi fruit increases, fewer people eat kiwi fruit. 
C)  An increase in the supply of computers has caused computer prices to fall. 
D)  Recessions lead to increases in the unemployment rate. 
E)  Hurricanes strike mainly Florida and North Carolina. 
A)  Flood victims should pay for their own rebuilding. 
B)  When the price of kiwi fruit increases, fewer people eat kiwi fruit. 
C)  An increase in the supply of computers has caused computer prices to fall. 
D)  Recessions lead to increases in the unemployment rate. 
E)  Hurricanes strike mainly Florida and North Carolina.

Question 9

-The graph shows

Accepted Answer

A)  a relationship with a minimum. 
B)  a relationship with a maximum. 
C)  no relationship. 
D)  a linear relationship. 
E)  a cross-section relationship. 
A)  a relationship with a minimum. 
B)  a relationship with a maximum. 
C)  no relationship. 
D)  a linear relationship. 
E)  a cross-section relationship.

Question 10

Which of the following is a positive statement?

Accepted Answer

A)  An increase in college tuition is not fair to students. 
B)  A recession leads to higher enrollments at universities. 
C)  University bookstore prices are too high. 
D)  Parking tickets on campus impose an excessive fee. 
E)  The school needs more parking for students. 
A)  An increase in college tuition is not fair to students. 
B)  A recession leads to higher enrollments at universities. 
C)  University bookstore prices are too high. 
D)  Parking tickets on campus impose an excessive fee. 
E)  The school needs more parking for students.

Question 11

-In the diagram above, which figure(s) show(s) an inverse relationship between the variables?

Accepted Answer

A)  both B and C 
B)  only B 
C)  both A and C 
D)  only D 
E)  only C 
A)  both B and C 
B)  only B 
C)  both A and C 
D)  only D 
E)  only C

Question 12

-A time series graph

Accepted Answer

A)  shows how a certain variable changes over time. 
B)  uses bars rather than lines. 
C)  shows points that are scattered. 
D)  depicts a series of good economic times a nation had. 
E)  is not useful if the goal is to determine a variable's trend. 
A)  shows how a certain variable changes over time. 
B)  uses bars rather than lines. 
C)  shows points that are scattered. 
D)  depicts a series of good economic times a nation had. 
E)  is not useful if the goal is to determine a variable's trend.

Question 13

A straight line falls when moving rightward along it.Hence the slope of the line is

Accepted Answer

A)  positive. 
B)  negative. 
C)  undefined. 
D)  zero because it is a straight line. 
E)  perhaps positive, negative, or zero, but without more information it is impossible to determine. 
A)  positive. 
B)  negative. 
C)  undefined. 
D)  zero because it is a straight line. 
E)  perhaps positive, negative, or zero, but without more information it is impossible to determine.

Question 14

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

Accepted Answer

A)  high. 
B)  falling. 
C)  rising or falling quickly. 
D)  rising or falling slowly. 
E)  very close to its trend point. 
A)  high. 
B)  falling. 
C)  rising or falling quickly. 
D)  rising or falling slowly. 
E)  very close to its trend point.

Question 15

Of the three major economic questions, which of the following is the best example of a "What? " question?

Accepted Answer

A)  Should automobiles be produced using workers or robots? 
B)  Should higher-income or lower-income people buy SUVs? 
C)  Should we make faster microprocessors or pest-resistant corn? 
D)  Should migrant workers or domestic workers be used to pick grapes? 
E)  What should doctors be paid? 
A)  Should automobiles be produced using workers or robots? 
B)  Should higher-income or lower-income people buy SUVs? 
C)  Should we make faster microprocessors or pest-resistant corn? 
D)  Should migrant workers or domestic workers be used to pick grapes? 
E)  What should doctors be paid?

Question 16

What does the slope of a straight line equal?
 How is the slope of a curved line calculated?

Accepted Answer

The slope of a straight line is calculat

Question 17

-The figure above shows the relationship between the journey length and the cost of trip per mile.The curve becomes flatter because as the journey length increases,

Accepted Answer

A)  the fall in the cost per mile becomes smaller. 
B)  the fall in the cost per mile becomes greater. 
C)  the cost per mile decreases. 
D)  the cost per mile increases. 
E)  the cost per mile remains unchanged. 
A)  the fall in the cost per mile becomes smaller. 
B)  the fall in the cost per mile becomes greater. 
C)  the cost per mile decreases. 
D)  the cost per mile increases. 
E)  the cost per mile remains unchanged.

Question 18

Self interest

Accepted Answer

A)  reflects choices that are best for society as a whole. 
B)  reflects choices that are best for the individual who makes them. 
C)  has nothing to do with determining what goods are produced. 
D)  occurs only when wants exceed available resources. 
E)  cannot be used to determine how goods are produced. 
A)  reflects choices that are best for society as a whole. 
B)  reflects choices that are best for the individual who makes them. 
C)  has nothing to do with determining what goods are produced. 
D)  occurs only when wants exceed available resources. 
E)  cannot be used to determine how goods are produced.

Question 19

-________ shows the values of a variable for different groups in the population at a certain point in time.

Accepted Answer

A)  A time-series graph 
B)  The origin 
C)  A cross-section graph 
D)  A scatter plot 
E)  A trend-line graph 
A)  A time-series graph 
B)  The origin 
C)  A cross-section graph 
D)  A scatter plot 
E)  A trend-line graph

Question 20

Which of the following is an example of a normative statement?

Accepted Answer

A)  If cars become more expensive, fewer people will buy them. 
B)  Car prices should be affordable. 
C)  If wages increase, firms will fire some workers. 
D)  Fewer people die in larger cars than in smaller cars. 
E)  Cars emit pollution. 
A)  If cars become more expensive, fewer people will buy them. 
B)  Car prices should be affordable. 
C)  If wages increase, firms will fire some workers. 
D)  Fewer people die in larger cars than in smaller cars. 
E)  Cars emit pollution.

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

-What is the slope of the line in the graph?

If the change in y = -4 and the change in x = 2, there is

Pumpkins are grown in New Mexico with the aid of fertilizer.Hence, fertilizer is a partial answer to which of the three economic question?

A graph of the value of one variable against the value of another variable is known as a

-In the above figure, which of the figures show(s) a relationships between x and y with a positive slope?

-In the diagram above, which figure(s) show(s) no relationship between the variables?

Which of the following is a normative statement?

-The graph shows

Which of the following is a positive statement?

-In the diagram above, which figure(s) show(s) an inverse relationship between the variables?

-A time series graph

A straight line falls when moving rightward along it.Hence the slope of the line is

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

Of the three major economic questions, which of the following is the best example of a "What? " question?

What does the slope of a straight line equal? How is the slope of a curved line calculated?

-The figure above shows the relationship between the journey length and the cost of trip per mile.The curve becomes flatter because as the journey length increases,

Self interest

-________ shows the values of a variable for different groups in the population at a certain point in time.

Which of the following is an example of a normative statement?

The Usand 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

Potential Gdp and the Natural Unemployment Rate

Economic Growth

Finance, Saving, and Investment

The Monetary System

Money, Interest, and Inflation

Aggregate Supply and Aggregate Demand

Aggregate Expenditure Multiplier

The Short-Run Policy Tradeoff

Fiscal Policy

Monetary Policy

International Trade Policy

International Finance

Filters

Exam 1: Getting Started

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

-What is the slope of the line in the graph?

If the change in y = -4 and the change in x = 2, there is

Pumpkins are grown in New Mexico with the aid of fertilizer.Hence, fertilizer is a partial answer to which of the three economic question?

A graph of the value of one variable against the value of another variable is known as a

-In the above figure, which of the figures show(s) a relationships between x and y with a positive slope?

-In the diagram above, which figure(s) show(s) no relationship between the variables?

Which of the following is a normative statement?

-The graph shows

Which of the following is a positive statement?

-In the diagram above, which figure(s) show(s) an inverse relationship between the variables?

-A time series graph

A straight line falls when moving rightward along it.Hence the slope of the line is

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

Of the three major economic questions, which of the following is the best example of a "What? " question?

What does the slope of a straight line equal? How is the slope of a curved line calculated?

-The figure above shows the relationship between the journey length and the cost of trip per mile.The curve becomes flatter because as the journey length increases,

Self interest

-________ shows the values of a variable for different groups in the population at a certain point in time.

Which of the following is an example of a normative statement?

The Usand 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

Potential Gdp and the Natural Unemployment Rate

Economic Growth

Finance, Saving, and Investment

The Monetary System

Money, Interest, and Inflation

Aggregate Supply and Aggregate Demand

Aggregate Expenditure Multiplier

The Short-Run Policy Tradeoff

Fiscal Policy

Monetary Policy

International Trade Policy

International Finance

Filters