Question 1

When a third string NFL quarterback earns more than a police officer, society answers the ________ question.

Accepted Answer

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

Question 2

The slope

Accepted Answer

A) of a straight line is the same regardless of where on the line it is calculated. 
B) equals the change in the value of the variable measured on the x-axis divided by the change in the variable measured on the y-axis. 
C) will be small if a large change in the variable measured on the y-axis is associated with a small change in the variable measured on the x-axis. 
D) equals the change in the value of the variable measured on the y-axis minus the change in the variable measured on the x-axis. 
E) falls as the x variable increases if the line has a negative slope. 
A) of a straight line is the same regardless of where on the line it is calculated. 
B) equals the change in the value of the variable measured on the x-axis divided by the change in the variable measured on the y-axis. 
C) will be small if a large change in the variable measured on the y-axis is associated with a small change in the variable measured on the x-axis. 
D) equals the change in the value of the variable measured on the y-axis minus the change in the variable measured on the x-axis. 
E) falls as the x variable increases if the line has a negative slope.

Question 3

If two variables are positively related, then

Accepted Answer

A) one variable causes the other. 
B) an increase in one variable is accompanied by a decrease in the other. 
C) an increase in one variable is accompanied by an increase in the other. 
D) they change together, but not necessarily in the same direction. 
E) neither variable can be positively related to any other variable. 
A) one variable causes the other. 
B) an increase in one variable is accompanied by a decrease in the other. 
C) an increase in one variable is accompanied by an increase in the other. 
D) they change together, but not necessarily in the same direction. 
E) neither variable can be positively related to any other variable.

Question 4

-What is the slope of the line in the figure above?

Accepted Answer

A) 0.75 
B) -0.75 
C) 1.33 
D) -1.33 
E) Zero 
A) 0.75 
B) -0.75 
C) 1.33 
D) -1.33 
E) Zero

Question 5

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

Accepted Answer

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

Question 6

$$\begin{array} { c c } 
\begin{array} { c } 
x \text { variable } \
\text { (on the horizontal axis) }
\end{array} & \begin{array} { c } 
y \text { variable } \
\text { (on the vertical axis) }
\end{array} \
\hline 100 & 50 \
200 & 125 \
300 & 200 \
\hline
\end{array}$$
-The table above shows data on two variables. If these data were graphed, the slope of the line would be

Accepted Answer

A) 1/2. 
B) 4/3. 
C) 2/3. 
D) 3/4. 
E) 2. 
A) 1/2. 
B) 4/3. 
C) 2/3. 
D) 3/4. 
E) 2.

Question 7

-What does the slope of the line shown in the above figure equal?

Accepted Answer

The slope equals the change in

Question 8

If Jessie studies economics for two hours instead of going to the movies with her friends, then

Accepted Answer

A) the benefit of studying is the missed movie. 
B) the opportunity cost of studying is the missed movie. 
C) Jesse definitely is making a rational choice. 
D) Jessie is ignoring a sunk cost. 
E) Jessie is not responding to any incentives. 
A) the benefit of studying is the missed movie. 
B) the opportunity cost of studying is the missed movie. 
C) Jesse definitely is making a rational choice. 
D) Jessie is ignoring a sunk cost. 
E) Jessie is not responding to any incentives.

Question 9

Which of the following is a macroeconomic topic?

Accepted Answer

A) The federal government's decision to spend more on environmental protection 
B) The county government's decision to increase the sales tax for your county 
C) Why did production and jobs expand slowly in 2011? 
D) General Motors decides what prices to set for their new models. 
E) The effect of floods in the growing areas on the price and quantity of wheat. 
A) The federal government's decision to spend more on environmental protection 
B) The county government's decision to increase the sales tax for your county 
C) Why did production and jobs expand slowly in 2011? 
D) General Motors decides what prices to set for their new models. 
E) The effect of floods in the growing areas on the price and quantity of wheat.

Question 10

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

Accepted Answer

A) increases 
B) decreases 
C) doesn't change 
D) changes only if the marginal benefit of the activity does not change 
E) changes only if the marginal benefit of the activity changes 
A) increases 
B) decreases 
C) doesn't change 
D) changes only if the marginal benefit of the activity does not change 
E) changes only if the marginal benefit of the activity changes

Question 11

-The figure above shows the relationship between the time a student spends studying and the student's GPA that semester. This figure shows ________ relationship between the time spent studying and the GPA.

Accepted Answer

A) a positive but not linear 
B) a negative 
C) no 
D) a positive, linear 
E) cross-sectionally trended 
A) a positive but not linear 
B) a negative 
C) no 
D) a positive, linear 
E) cross-sectionally trended

Question 12

When Fresh Express Salads decides to mechanically pick all of its lettuce, it directly answers the ________ question.

Accepted Answer

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

Question 13

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

Accepted Answer

A) the two previous hamburgers. 
B) all three hamburgers. 
C) just the third hamburger. 
D) just the second hamburger. 
E) the third hamburger minus the pleasure from consuming zero hamburgers. 
A) the two previous hamburgers. 
B) all three hamburgers. 
C) just the third hamburger. 
D) just the second hamburger. 
E) the third hamburger minus the pleasure from consuming zero hamburgers.

Question 14

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 15

Scarcity

Accepted Answer

A) is the inability to satisfy all our wants. 
B) leads to higher prices. 
C) applies only to people living in poverty. 
D) is not something that affects very rich people. 
E) used to exist everywhere but has been eliminated in advanced economies. 
A) is the inability to satisfy all our wants. 
B) leads to higher prices. 
C) applies only to people living in poverty. 
D) is not something that affects very rich people. 
E) used to exist everywhere but has been eliminated in advanced economies.

Question 16

-The slope of the line shown in the above figure is

Accepted Answer

A) -1/3. 
B) -5. 
C) -1. 
D) -3. 
E) -10. 
A) -1/3. 
B) -5. 
C) -1. 
D) -3. 
E) -10.

Question 17

The important characteristic of normative statements is that they

Accepted Answer

A) explain what really exists. 
B) are based on somebody's values and cannot be tested. 
C) explain what normally happens in the real world. 
D) help guide us to what will normally occur if some economic variable changes its value. 
E) do not use the ceteris paribus assumption. 
A) explain what really exists. 
B) are based on somebody's values and cannot be tested. 
C) explain what normally happens in the real world. 
D) help guide us to what will normally occur if some economic variable changes its value. 
E) do not use the ceteris paribus assumption.

When a third string NFL quarterback earns more than a police officer, society answers the ________ question.

The slope

If two variables are positively related, then

-What is the slope of the line in the figure above?

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

x variable (on the horizontal axis) y variable (on the vertical axis) 100 50 200 125 300 200 -The table above shows data on two variables. If these data were graphed, the slope of the line would be

-What does the slope of the line shown in the above figure equal?

If Jessie studies economics for two hours instead of going to the movies with her friends, then

Which of the following is a macroeconomic topic?

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

-The figure above shows the relationship between the time a student spends studying and the student's GPA that semester. This figure shows ________ relationship between the time spent studying and the GPA.

When Fresh Express Salads decides to mechanically pick all of its lettuce, it directly answers the ________ question.

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

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

Scarcity

-The slope of the line shown in the above figure is

The important characteristic of normative statements is that they

The Us and Global Economies

The Economic Problem

Demand and Supply

Elasticities of Demand and Supply

Efficiency and Fairness of Markets

Government Actions in Markets

Global Markets in Action

Externalities: Pollution, Education, and Health Care

Production and Cost

Perfect Competition

Monopoly

Monopolistic Competition and Oligopoly

Gdp: a Measure of Total Production and Income

Jobs and Unemployment

The Cpi and the Cost of Living

Potential Gdp and Economic Growth

Money and the Monetary System

Aggregate Supply and Aggregate Demand

Fiscal Policy and Monetary Policy

Filters

Exam 1: Getting Started

When a third string NFL quarterback earns more than a police officer, society answers the ________ question.

The slope

If two variables are positively related, then

-What is the slope of the line in the figure above?

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

x variable (on the horizontal axis) y variable (on the vertical axis) 100 50 200 125 300 200 -The table above shows data on two variables. If these data were graphed, the slope of the line would be

-What does the slope of the line shown in the above figure equal?

If Jessie studies economics for two hours instead of going to the movies with her friends, then

Which of the following is a macroeconomic topic?

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

-The figure above shows the relationship between the time a student spends studying and the student's GPA that semester. This figure shows ________ relationship between the time spent studying and the GPA.

When Fresh Express Salads decides to mechanically pick all of its lettuce, it directly answers the ________ question.

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

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

Scarcity

-The slope of the line shown in the above figure is

The important characteristic of normative statements is that they

The Us and Global Economies

The Economic Problem

Demand and Supply

Elasticities of Demand and Supply

Efficiency and Fairness of Markets

Government Actions in Markets

Global Markets in Action

Externalities: Pollution, Education, and Health Care

Production and Cost

Perfect Competition

Monopoly

Monopolistic Competition and Oligopoly

Gdp: a Measure of Total Production and Income

Jobs and Unemployment

The Cpi and the Cost of Living

Potential Gdp and Economic Growth

Money and the Monetary System

Aggregate Supply and Aggregate Demand

Fiscal Policy and Monetary Policy

Filters