Question 1

-If a given value of x is associated with a particular value of y,

Accepted Answer

A)  then x causes y 
B)  then y causes x 
C)  then x and y must be logically connected 
D)  there are no other variables that affect the value of y 
E)  there may be no causal relationship between x and y 
A)  then x causes y 
B)  then y causes x 
C)  then x and y must be logically connected 
D)  there are no other variables that affect the value of y 
E)  there may be no causal relationship between x and y

Question 2

Exhibit 1-5  
-The slope of the straight line in Exhibit 1-5 is

Accepted Answer

A)  greater at point a than at point b 
B)  the same at points a and b 
C)  zero because the line is straight 
D)  negative because an inverse relation is shown 
E)  positive because the line lies to the right of the y-axis 
A)  greater at point a than at point b 
B)  the same at points a and b 
C)  zero because the line is straight 
D)  negative because an inverse relation is shown 
E)  positive because the line lies to the right of the y-axis

Question 3

The statement that there is an inverse relationship between x and y means that

Accepted Answer

A)  x causes y 
B)  y causes x 
C)  x and y move in opposite directions 
D)  either y causes x or x causes y 
E)  there is no causal relationship between x and y 
A)  x causes y 
B)  y causes x 
C)  x and y move in opposite directions 
D)  either y causes x or x causes y 
E)  there is no causal relationship between x and y

Question 4

Exhibit 1-8  
-In Exhibit 1-8,the slope of the line is

Accepted Answer

A)  negative for all values of x 
B)  positive for all values of x 
C)  zero at x = 7 
D)  first negative,then positive as x increases 
E)  negative for all values of y 
A)  negative for all values of x 
B)  positive for all values of x 
C)  zero at x = 7 
D)  first negative,then positive as x increases 
E)  negative for all values of y

Question 5

Exhibit 1-2  
-In Exhibit 1-2,at x = 12,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 6

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 7

Exhibit 1-4  
-According to the curve in Exhibit 1-4,

Accepted Answer

A)  if P = $8,then Q = 8 
B)  if P = $10,then Q = 10 
C)  Q increases as P increases 
D)  Q decreases as P decreases 
E)  there is a positive relation between Q and P 
A)  if P = $8,then Q = 8 
B)  if P = $10,then Q = 10 
C)  Q increases as P increases 
D)  Q decreases as P decreases 
E)  there is a positive relation between Q and P

Question 8

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 9

-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 10

Exhibit 1-2  
-In Exhibit 1-2,at y = 14,the

Accepted Answer

A)  value of x is larger on curve A than on curve B 
B)  value of x is smaller on curve A than on curve B 
C)  value of x 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 x is larger on curve A than on curve B 
B)  value of x is smaller on curve A than on curve B 
C)  value of x 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 11

Exhibit 1-2  
-In Exhibit 1-2,at x = 8,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 12

A downward-sloping straight line has a decreasing slope.

Accepted Answer

A) True 
 B)False

Question 13

Suppose the cost of producing copper tubing is $1 per foot.If production costs were measured on the vertical axis and quantity of copper tubing were measured on the horizontal axis,which of the following lines would have the smallest slope?

Accepted Answer

A)  a line representing the quantity of tubing measured in inches 
B)  a line representing the quantity of tubing measured in feet 
C)  a line representing the quantity of tubing measured in yards 
D)  the 45-degree line 
E)  any vertical line 
A)  a line representing the quantity of tubing measured in inches 
B)  a line representing the quantity of tubing measured in feet 
C)  a line representing the quantity of tubing measured in yards 
D)  the 45-degree line 
E)  any vertical line

Question 14

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 15

Ron weighs 150 pounds.A graph relating Ron's weight on the vertical axis to Nancy's consumption of ice cream on the horizontal axis would be

Accepted Answer

A)  a horizontal line at weight = 150 
B)  a horizontal line at weight = 0 
C)  a positively sloped line with decreasing slope 
D)  a vertical line at weight = 150 
E)  the origin 
A)  a horizontal line at weight = 150 
B)  a horizontal line at weight = 0 
C)  a positively sloped line with decreasing slope 
D)  a vertical line at weight = 150 
E)  the origin

Question 16

-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 17

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 18

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 19

Exhibit 1-9  
-In Exhibit 1-9,the slope of the line is

Accepted Answer

A)  negative for all values of x 
B)  positive for all values of x 
C)  never zero 
D)  first negative,then positive as x increases 
E)  first rising,then falling as x increases 
A)  negative for all values of x 
B)  positive for all values of x 
C)  never zero 
D)  first negative,then positive as x increases 
E)  first rising,then falling as x increases

Question 20

Moderate exercise is better than none,but excessive exercise is harmful.What is the shape of the graph of health benefits versus hours of exercise per week if health benefits are measured on the vertical axis and exercise is measured on the horizontal axis?

Accepted Answer

A)  a positively sloped straight line 
B)  a negatively sloped straight line 
C)  a vertical straight line 
D)  a U-shaped curve 
E)  a hill-shaped curve 
A)  a positively sloped straight line 
B)  a negatively sloped straight line 
C)  a vertical straight line 
D)  a U-shaped curve 
E)  a hill-shaped curve

Exam 21: Understanding Graphs

-If a given value of x is associated with a particular value of y,

Exhibit 1-5 -The slope of the straight line in Exhibit 1-5 is

The statement that there is an inverse relationship between x and y means that

Exhibit 1-8 -In Exhibit 1-8,the slope of the line is

Exhibit 1-2 -In Exhibit 1-2,at x = 12,the

A straight line tangent to a curved line at a point

Exhibit 1-4 -According to the curve in Exhibit 1-4,

A graph is a

-Point b in Exhibit 1-1 represents

Exhibit 1-2 -In Exhibit 1-2,at y = 14,the

Exhibit 1-2 -In Exhibit 1-2,at x = 8,the

A downward-sloping straight line has a decreasing slope.

Suppose the cost of producing copper tubing is $1 per foot.If production costs were measured on the vertical axis and quantity of copper tubing were measured on the horizontal axis,which of the following lines would have the smallest slope?

The slope of a vertical line is

Ron weighs 150 pounds.A graph relating Ron's weight on the vertical axis to Nancy's consumption of ice cream on the horizontal axis would be

-In Exhibit 1-1,point c represents

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

The slope of a horizontal line is

Exhibit 1-9 -In Exhibit 1-9,the slope of the line is

Moderate exercise is better than none,but excessive exercise is harmful.What is the shape of the graph of health benefits versus hours of exercise per week if health benefits are measured on the vertical axis and exercise is measured on the horizontal axis?

The Art and Science of Economic Analysis

Economic Tools and Economics Systems

Economic Decision Makers

Demand, Supply, and Markets

Introduction to Macroeconomics

Productivity and Growth

Tracking the US Economy

Unemployment and Inflation

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

Monetary Theory and Policy

Macro Policy Debate: Active or Passive

International Trade

International Finance

Developing and Transitional Economies

National Income Accounts

Variable Net Exports

Variable Net Exports Revisited

The Algebra of Income and Expenditure

The Algebra of Demand-Side Equilibrium

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