Question 1

Exhibit 1A-14
  
-Refer to the exhibit.Why would line a shift to the position of line b?

Accepted Answer

A)  because of a change in quantity only 
B)  because of a change in price only 
C)  because of a change in an assumption about the relationship between the two variables observed 
D)  because of changes in both quantity and price 
A)  because of a change in quantity only 
B)  because of a change in price only 
C)  because of a change in an assumption about the relationship between the two variables observed 
D)  because of changes in both quantity and price

Question 2

Exhibit 1A-4
 a.

b.
  
 c. 
  d.
 
-Refer to the exhibit.Which statement describes Curve A?

Accepted Answer

A)  It has a positive slope that is constant at every point. 
B)  It has a positive slope that is changing at every point. 
C)  It has a negative slope that is constant at every point. 
D)  It has a negative slope that is changing at every point. 
A)  It has a positive slope that is constant at every point. 
B)  It has a positive slope that is changing at every point. 
C)  It has a negative slope that is constant at every point. 
D)  It has a negative slope that is changing at every point.

Question 3

On a graph with x on the horizontal axis and y on the vertical axis, what is the origin?

Accepted Answer

A)  the point where x = 0 and y = 0 
B)  any point where x = 0 
C)  any point where y = 0 
D)  any point where a curve intersects the vertical axis 
A)  the point where x = 0 and y = 0 
B)  any point where x = 0 
C)  any point where y = 0 
D)  any point where a curve intersects the vertical axis

Question 4

Exhibit 1A-1
 
-Refer to the exhibit.What does point c represent?

Accepted Answer

A)  x = 30, y = 60 
B)  x = 60, y = 30 
C)  c = 90 
D)  x + y = 60 
A)  x = 30, y = 60 
B)  x = 60, y = 30 
C)  c = 90 
D)  x + y = 60

Question 5

Exhibit 1A-13
  
-Refer to exhibit.What is the slope of the curve where x equals 50?

Accepted Answer

A)  infinite 
B)  1 
C)  0 
D)  -1 
A)  infinite 
B)  1 
C)  0 
D)  -1

Question 6

Exhibit 1A-2
  
-Refer to the exhibit.At x = 8, what is the value of y?

Accepted Answer

A)  It is larger on curve A than on curve B. 
B)  It is smaller on curve A than on curve B. 
C)  It is the same on both curves. 
D)  It is tangent to both curves. 
A)  It is larger on curve A than on curve B. 
B)  It is smaller on curve A than on curve B. 
C)  It is the same on both curves. 
D)  It is tangent to both curves.

Question 7

A graph shows Ron's weight on the vertical axis and his consumption of ice cream on the horizontal axis.Suppose the graph indicates that for each serving of ice cream he eats, Ron gains 2 kilograms, regardless of how much ice cream he had already eaten.What would this graph show?

Accepted Answer

A)  a straight line with slope = 2 
B)  a straight line with slope = 1/2 
C)  a straight line with slope = -1/2 
D)  a straight line with slope = -2 
A)  a straight line with slope = 2 
B)  a straight line with slope = 1/2 
C)  a straight line with slope = -1/2 
D)  a straight line with slope = -2

Question 8

Exhibit 1A-4
 a.

b.
  
 c. 
  d.
 
-Refer to the exhibit.Which graph illustrates a relationship between variable X and variable Y that begins positively but then changes to a negative relationship?

Accepted Answer

A)  graph a 
B)  graph b 
C)  graph c 
D)  graph d 
A)  graph a 
B)  graph b 
C)  graph c 
D)  graph d

Question 9

What is a tangent line?

Accepted Answer

A)  a straight line that intersects a curved line twice 
B)  a straight line that has a slope equal to infinity 
C)  a straight line that touches a curved line at only one point 
D)  a line that runs along the vertical axis 
A)  a straight line that intersects a curved line twice 
B)  a straight line that has a slope equal to infinity 
C)  a straight line that touches a curved line at only one point 
D)  a line that runs along the vertical axis

Question 10

How many economic variables are involved in the relationship reflected on most economics graphs?

Accepted Answer

A)  two 
B)  three 
C)  four 
D)  twenty 
A)  two 
B)  three 
C)  four 
D)  twenty

Question 11

Exhibit 1A-4
 a.

b.
  
 c. 
  d.
 
-Refer to the exhibit.What is the slope of the curve equal to?

Accepted Answer

A)  1 
B)  2 
C)  2-1 
D)  0 
A)  1 
B)  2 
C)  2-1 
D)  0

Question 12

Exhibit 1A-4
 a.

b.
  
 c. 
  d.
 
-Refer to the exhibit.Which graph illustrates a direct or positive relationship between variable X and variable Y?

Accepted Answer

A)  graph a 
B)  graph b 
C)  graph c 
D)  graph d 
A)  graph a 
B)  graph b 
C)  graph c 
D)  graph d

Question 13

Which of the following would cause a line on a graph to shift?

Accepted Answer

A)  if the independent variable changes 
B)  if there are no changes in any variables considered in the model 
C)  if there is a change in a variable that had previously been assumed to be constant 
D)  if a change in the independent variable causes a change in the dependent variable 
A)  if the independent variable changes 
B)  if there are no changes in any variables considered in the model 
C)  if there is a change in a variable that had previously been assumed to be constant 
D)  if a change in the independent variable causes a change in the dependent variable

Question 14

Exhibit 1A-9
  
-Refer to the exhibit.Which statement best describes the slope of the line?

Accepted Answer

A)  The line is negative for all values of x. 
B)  The line is positive for all values of x. 
C)  The line is zero at x = 7. 
D)  The line is first negative, and then it is positive as x increases. 
A)  The line is negative for all values of x. 
B)  The line is positive for all values of x. 
C)  The line is zero at x = 7. 
D)  The line is first negative, and then it is positive as x increases.

Question 15

Which of the following is the best definition of a slope of a line?

Accepted Answer

A)  the rise divided by the run 
B)  the change in the rise divided by the change in the run 
C)  the run divided by the rise 
D)  the change in run divided by the change in the rise 
A)  the rise divided by the run 
B)  the change in the rise divided by the change in the run 
C)  the run divided by the rise 
D)  the change in run divided by the change in the rise

Question 16

What can be assumed if a given value of x is associated with a particular value of y?

Accepted Answer

A)  that x causes y 
B)  that y causes x 
C)  that x and y must be logically connected 
D)  that there may be no causal relationship between x and y 
A)  that x causes y 
B)  that y causes x 
C)  that x and y must be logically connected 
D)  that there may be no causal relationship between x and y

Question 17

When is a line tangent to a curve?

Accepted Answer

A)  if the line tangent crosses the curve at one point 
B)  if the line tangent touches the curve at one point, without crossing it 
C)  it the line tangent crosses the curve at a minimum of two points 
D)  if the line tangent never touches the curve 
A)  if the line tangent crosses the curve at one point 
B)  if the line tangent touches the curve at one point, without crossing it 
C)  it the line tangent crosses the curve at a minimum of two points 
D)  if the line tangent never touches the curve

Question 18

Exhibit 1A-7
  
-Refer to the exhibit.What is the slope of the line?

Accepted Answer

A)  -10 
B)  -0.1 
C)  0.1 
D)  10 
A)  -10 
B)  -0.1 
C)  0.1 
D)  10

Question 19

Ron weighs 70 kilograms.A graph relates Ron's weight on the vertical axis to Nancy's consumption of ice cream on the horizontal axis.Which statement describes the line on the graph?

Accepted Answer

A)  The line is horizontal at weight = 70. 
B)  The line is horizontal at weight = 0. 
C)  The line is positively sloped with decreasing slope. 
D)  The line is vertical at weight = 70. 
A)  The line is horizontal at weight = 70. 
B)  The line is horizontal at weight = 0. 
C)  The line is positively sloped with decreasing slope. 
D)  The line is vertical at weight = 70.

Question 20

Suppose y is measured on the vertical axis, x is measured on the horizontal axis, and the various combinations of x and y are shown by a non-vertical straight line.Which of the following describes the relationship between x and y?

Accepted Answer

A)  There is a negative relation between x and y. 
B)  There is a positive relation between x and y. 
C)  There is a causal relation between x and y. 
D)  If the value of x is known, the value of y can be determined. 
A)  There is a negative relation between x and y. 
B)  There is a positive relation between x and y. 
C)  There is a causal relation between x and y. 
D)  If the value of x is known, the value of y can be determined.

Exhibit 1A-14 -Refer to the exhibit.Why would line a shift to the position of line b?

Exhibit 1A-4 a. b. c. d. -Refer to the exhibit.Which statement describes Curve A?

On a graph with x on the horizontal axis and y on the vertical axis, what is the origin?

Exhibit 1A-1 -Refer to the exhibit.What does point c represent?

Exhibit 1A-13 -Refer to exhibit.What is the slope of the curve where x equals 50?

Exhibit 1A-2 -Refer to the exhibit.At x = 8, what is the value of y?

A graph shows Ron's weight on the vertical axis and his consumption of ice cream on the horizontal axis.Suppose the graph indicates that for each serving of ice cream he eats, Ron gains 2 kilograms, regardless of how much ice cream he had already eaten.What would this graph show?

Exhibit 1A-4 a. b. c. d. -Refer to the exhibit.Which graph illustrates a relationship between variable X and variable Y that begins positively but then changes to a negative relationship?

What is a tangent line?

How many economic variables are involved in the relationship reflected on most economics graphs?

Exhibit 1A-4 a. b. c. d. -Refer to the exhibit.What is the slope of the curve equal to?

Exhibit 1A-4 a. b. c. d. -Refer to the exhibit.Which graph illustrates a direct or positive relationship between variable X and variable Y?

Which of the following would cause a line on a graph to shift?

Exhibit 1A-9 -Refer to the exhibit.Which statement best describes the slope of the line?

Which of the following is the best definition of a slope of a line?

What can be assumed if a given value of x is associated with a particular value of y?

When is a line tangent to a curve?

Exhibit 1A-7 -Refer to the exhibit.What is the slope of the line?

Ron weighs 70 kilograms.A graph relates Ron's weight on the vertical axis to Nancy's consumption of ice cream on the horizontal axis.Which statement describes the line on the graph?

Suppose y is measured on the vertical axis, x is measured on the horizontal axis, and the various combinations of x and y are shown by a non-vertical straight line.Which of the following describes the relationship between x and y?

The Art and Science of Economic Analysis

Economic Tools and Economic Systems

Economic Decision Makers

Demand, Supply, and Markets

Algebraic Approach to Demand, Supply, and Equilibrium

Introduction to Macroeconomics

Tracking the Canadian Economy

Unemployment and Inflation

Productivity and Growth

Aggregate Expenditure and Aggregate Demand

Aggregate Supply

Fiscal Policy

Money and the Financial System

Banking and the Money Supply

Monetary Theory and Policy in an Open Economy

Macro Policy Debate: Active or Passive

International Finance

International Trade

Economic Development

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Exam 20: Understanding Graphs

Exhibit 1A-14 -Refer to the exhibit.Why would line a shift to the position of line b?

Exhibit 1A-4 a. b. c. d. -Refer to the exhibit.Which statement describes Curve A?

On a graph with x on the horizontal axis and y on the vertical axis, what is the origin?

Exhibit 1A-1 -Refer to the exhibit.What does point c represent?

Exhibit 1A-13 -Refer to exhibit.What is the slope of the curve where x equals 50?

Exhibit 1A-2 -Refer to the exhibit.At x = 8, what is the value of y?

A graph shows Ron's weight on the vertical axis and his consumption of ice cream on the horizontal axis.Suppose the graph indicates that for each serving of ice cream he eats, Ron gains 2 kilograms, regardless of how much ice cream he had already eaten.What would this graph show?

Exhibit 1A-4 a. b. c. d. -Refer to the exhibit.Which graph illustrates a relationship between variable X and variable Y that begins positively but then changes to a negative relationship?

What is a tangent line?

How many economic variables are involved in the relationship reflected on most economics graphs?

Exhibit 1A-4 a. b. c. d. -Refer to the exhibit.What is the slope of the curve equal to?

Exhibit 1A-4 a. b. c. d. -Refer to the exhibit.Which graph illustrates a direct or positive relationship between variable X and variable Y?

Which of the following would cause a line on a graph to shift?

Exhibit 1A-9 -Refer to the exhibit.Which statement best describes the slope of the line?

Which of the following is the best definition of a slope of a line?

What can be assumed if a given value of x is associated with a particular value of y?

When is a line tangent to a curve?

Exhibit 1A-7 -Refer to the exhibit.What is the slope of the line?

Ron weighs 70 kilograms.A graph relates Ron's weight on the vertical axis to Nancy's consumption of ice cream on the horizontal axis.Which statement describes the line on the graph?

Suppose y is measured on the vertical axis, x is measured on the horizontal axis, and the various combinations of x and y are shown by a non-vertical straight line.Which of the following describes the relationship between x and y?

The Art and Science of Economic Analysis

Economic Tools and Economic Systems

Economic Decision Makers

Demand, Supply, and Markets

Algebraic Approach to Demand, Supply, and Equilibrium

Introduction to Macroeconomics

Tracking the Canadian Economy

Unemployment and Inflation

Productivity and Growth

Aggregate Expenditure and Aggregate Demand

Aggregate Supply

Fiscal Policy

Money and the Financial System

Banking and the Money Supply

Monetary Theory and Policy in an Open Economy

Macro Policy Debate: Active or Passive

International Finance

International Trade

Economic Development

Filters