Question 1

The slope of a U-shaped curve is infinity at the bottom of the U.

Accepted Answer

A) True 
 B)False

Question 2

A functional relationship exists between two variables if the value of one variable depends on the value of the other variable.

Accepted Answer

A) True 
 B)False

Question 3

Exhibit 1-1
 
-Point a in Exhibit 1-1 represents

Accepted Answer

A) the origin 
B) x = 0, y = 50 
C) x = 50, y = 0 
D) x + y = 50 
E) y = 0; no information is given about x 
A) the origin 
B) x = 0, y = 50 
C) x = 50, y = 0 
D) x + y = 50 
E) y = 0; no information is given about x

Question 4

A straight line tangent to a curved line at a point

Accepted Answer

A) crosses the curved line at that point 
B) crosses the curved line at many points 
C) has the same slope as the curved line at that point 
D) is steeper than the curve at all other points 
E) has a smaller slope than all other points on the curve 
A) crosses the curved line at that point 
B) crosses the curved line at many points 
C) has the same slope as the curved line at that point 
D) is steeper than the curve at all other points 
E) has a smaller slope than all other points on the curve

Question 5

If the dependent variable Y is directly related to the independent variable X, this means that changes in X cause changes in Y.

Accepted Answer

A) True 
 B)False

Question 6

Exhibit 1-8   
-The slope of a vertical line is

Accepted Answer

A) infinitely large 
B) zero 
C) positive 
D) negative 
E) infinitely small 
A) infinitely large 
B) zero 
C) positive 
D) negative 
E) infinitely small

Question 7

Exhibit 1-2   
-In Exhibit 1-2, at x = 10, the

Accepted Answer

A) value of y is larger on curve A than on curve B 
B) value of y is smaller on curve A than on curve B 
C) value of y is the same on curve A as on curve B 
D) slope of line A is negative 
E) slope of line B is positive 
A) value of y is larger on curve A than on curve B 
B) value of y is smaller on curve A than on curve B 
C) value of y is the same on curve A as on curve B 
D) slope of line A is negative 
E) slope of line B is positive

Question 8

Exhibit 1-9
   
-Using the values in Exhibit 1-7, calculate the slope of a line graphed with x on the horizontal axis and y on the vertical axis.

Accepted Answer

A) 0.5 
B) 2 
C) 1.5 
D) 100 
E) the slope cannot be determined without additional information 
A) 0.5 
B) 2 
C) 1.5 
D) 100 
E) the slope cannot be determined without additional information

Question 9

Exhibit 1-1
 
-In Exhibit 1-1, point c represents

Accepted Answer

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

Question 10

Any point on a graph represents a combination of particular values of two variables.

Accepted Answer

A) True 
 B)False

Question 11

The slope of an inverted U-shaped curve is infinity at the top of the curve.

Accepted Answer

A) True 
 B)False

Question 12

Exhibit 1-8   
-The slope of a horizontal line is

Accepted Answer

A) infinitely large 
B) zero 
C) positive 
D) negative 
E) infinitely small 
A) infinitely large 
B) zero 
C) positive 
D) negative 
E) infinitely small

Question 13

Exhibit 1-16           
-Refer to exhibit 1-16. Which of the graphs illustrates no relationship between variable X and variable Y?

Accepted Answer

A) a 
B) b 
C) c 
D) d 
E) e 
A) a 
B) b 
C) c 
D) d 
E) e

Question 14

The statement that there is a direct relation between x and y means that

Accepted Answer

A) x and y move in the same direction 
B) x causes y 
C) y causes x 
D) either y causes x or x causes y 
E) the causal connection between x and y is immediate 
A) x and y move in the same direction 
B) x causes y 
C) y causes x 
D) either y causes x or x causes y 
E) the causal connection between x and y is immediate

Question 15

A graph is a

Accepted Answer

A) lengthy, inefficient, and inconvenient way to illustrate information 
B) diagram illustrating a relationship between variables 
C) method of proving causation 
D) tool for incorporating all major and minor variables in one illustration 
E) clear way to see how the fallacy of composition works 
A) lengthy, inefficient, and inconvenient way to illustrate information 
B) diagram illustrating a relationship between variables 
C) method of proving causation 
D) tool for incorporating all major and minor variables in one illustration 
E) clear way to see how the fallacy of composition works

Question 16

Exhibit 1-5   
-In Exhibit 1-2, curve A has a __________ slope that is __________ at every point.

Accepted Answer

A) positive; constant 
B) positive; changing 
C) negative; constant 
D) negative; changing 
E) changing; constant 
A) positive; constant 
B) positive; changing 
C) negative; constant 
D) negative; changing 
E) changing; constant

Question 17

Exhibit 1-14   
-A line on a graph will shift if

Accepted Answer

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

Question 18

Exhibit 1-13   
-Compare the slopes of the tangents at points a and b in Exhibit 1-11. Which of the following statements is true?

Accepted Answer

A)  The slope at a is positive, and the slope at b is negative. 
B)  The slope at a is negative, and the slope at b is positive. 
C)  The slope is positive at both a and b. 
D)  The slope is negative at both a and b. 
E)  The slope at a is equal to the slope at b. 
A)  The slope at a is positive, and the slope at b is negative. 
B)  The slope at a is negative, and the slope at b is positive. 
C)  The slope is positive at both a and b. 
D)  The slope is negative at both a and b. 
E)  The slope at a is equal to the slope at b.

Question 19

Exhibit 1-1
 
-Point b in Exhibit 1-1 represents

Accepted Answer

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

Question 20

Exhibit 1-12   
-The slope of the line in Exhibit 1-10 is

Accepted Answer

A) positive and constant 
B) positive and increasing 
C) positive and decreasing 
D) negative and increasing 
E) negative and decreasing 
A) positive and constant 
B) positive and increasing 
C) positive and decreasing 
D) negative and increasing 
E) negative and decreasing

Exam 22:Understanding Graphs

The slope of a U-shaped curve is infinity at the bottom of the U.

A functional relationship exists between two variables if the value of one variable depends on the value of the other variable.

Exhibit 1-1 -Point a in Exhibit 1-1 represents

A straight line tangent to a curved line at a point

If the dependent variable Y is directly related to the independent variable X, this means that changes in X cause changes in Y.

Exhibit 1-8 -The slope of a vertical line is

Exhibit 1-2 -In Exhibit 1-2, at x = 10, the

Exhibit 1-9 -Using the values in Exhibit 1-7, calculate the slope of a line graphed with x on the horizontal axis and y on the vertical axis.

Exhibit 1-1 -In Exhibit 1-1, point c represents

Any point on a graph represents a combination of particular values of two variables.

The slope of an inverted U-shaped curve is infinity at the top of the curve.

Exhibit 1-8 -The slope of a horizontal line is

Exhibit 1-16 -Refer to exhibit 1-16. Which of the graphs illustrates no relationship between variable X and variable Y?

The statement that there is a direct relation between x and y means that

A graph is a

Exhibit 1-5 -In Exhibit 1-2, curve A has a __________ slope that is __________ at every point.

Exhibit 1-14 -A line on a graph will shift if

Exhibit 1-13 -Compare the slopes of the tangents at points a and b in Exhibit 1-11. Which of the following statements is true?

Exhibit 1-1 -Point b in Exhibit 1-1 represents

Exhibit 1-12 -The slope of the line in Exhibit 1-10 is

The Art and Science of Economic Analysis

Economic Tools and Economics Systems

Economic Decision Makers

Demand Supply and Markets

Introduction to Macroeconomics

Tracking the Us Economy

Unemployment and Inflation

Productivity and Growth

Aggregate Expenditure

Aggregate Expenditure and Aggregate Demand

Aggregate Supply

Fiscal Policy

Federal Budgets and Public Policy

Money and the Financial System

Banking and the Money Supply

The Algebra of Income and Expenditure

Monetary Theory and Policy

Macro Policy Debate: Active or Passive

The Algebra of Demand-Side Equilibrium

International Trade

International Finance

Economic Development

National Income Accounts

Variable Net Exports

Variable Net Exports Revisited

Filters

Exhibit 1-5 -In Exhibit 1-2, curve A has a slope that is at every point.