Exam 1: Getting Started

As the number of days without rain increases, the amount of wheat grown per acre declines. A graph showing this relationship shows

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

A time series graph reveals whether there is a ________ , which represents ________.

If two variables are unrelated, their graph is

Scarcity results from the fact that

A graph that shows the value of an economic variable for different groups in a population at a given time is called a

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

In the diagram below, label the x-axis, the y-axis, and the origin.

A statement that argues that "if taxes on gasoline increase, gasoline consumption will decrease" is an example of what kind of statement?

Which of the following is a positive statement?

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

In examining two variables, we find that as one variable changes, the other changes. These variables are said to be

-The graph shows

The Latin term "ceteris paribus" means

Which of the following statements is correct?

An incentive is

List and explain the three fundamental economic questions that must be answered by all economic systems.

The minimum point of a U-shaped curve,

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

To graph a relationship among several variables, we hold all but ________ variable(s)constant and use the ________ assumption.