Question 1

Exhibit 1-15
  
-Refer to Exhibit 1-13. The reason that Line (a) would shift to the position of Line (b) is

Accepted Answer

A) a change in quantity 
B) a change in price 
C) a change in an assumption about the relationship between the two variables observed 
D) a change from a positive relation to a negative relation 
E) a change from a negative relation to a positive relation 
A) a change in quantity 
B) a change in price 
C) a change in an assumption about the relationship between the two variables observed 
D) a change from a positive relation to a negative relation 
E) a change from a negative relation to a positive relation

Question 2

A tangent line is a straight line

Accepted Answer

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

Question 3

A U-shaped curve has a positive slope everywhere.

Accepted Answer

A) True 
 B)False

Question 4

If slope = -2 for a line on a graph with x on the horizontal axis and y on the vertical axis, then if

Accepted Answer

A) x increases by 4, y increases by 8 
B) x increases by 4, y increases by 2 
C) y increases by 4, x increases by 8 
D) x = 4, y = 8 
E) x increases by 4, y decreases by 8 
A) x increases by 4, y increases by 8 
B) x increases by 4, y increases by 2 
C) y increases by 4, x increases by 8 
D) x = 4, y = 8 
E) x increases by 4, y decreases by 8

Question 5

Exhibit 1-16
          
-Refer to Exhibit 1-16. Which graph illustrates a negative relationship between variable X and variable Y initially but then a positive relationship?

Accepted Answer

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

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

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 8

One economic application of the slope of a line is

Accepted Answer

A) measuring unlimited wants 
B) behavioral analysis 
C) marginal analysis 
D) allocative efficiency 
E) rational self-interest 
A) measuring unlimited wants 
B) behavioral analysis 
C) marginal analysis 
D) allocative efficiency 
E) rational self-interest

Question 9

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 10

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 11

Exhibit 1-6
  
-Along the curve in Exhibit 1-4,

Accepted Answer

A) if P = $6, then Q = 8 
B) if Q = 10, then P = $4 
C) the slope is equal to -1 
D) Q increases as P increases 
E) there is a positive relationship between Q and P 
A) if P = $6, then Q = 8 
B) if Q = 10, then P = $4 
C) the slope is equal to -1 
D) Q increases as P increases 
E) there is a positive relationship between Q and P

Question 12

Exhibit 1-8
  
-The slope of the line in Exhibit 1-6 is

Accepted Answer

A) 0.1 
B) 1 
C) 10 
D) -0.1 
E) -10 
A) 0.1 
B) 1 
C) 10 
D) -0.1 
E) -10

Question 13

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 14

A curved line may have a positive slope or a negative slope, but it cannot have both positive and negative areas of slope.

Accepted Answer

A) True 
 B)False

Question 15

Exhibit 1-7
  
-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 16

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 17

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 18

On a graph, the origin represents

Accepted Answer

A) the dependent variable 
B) the variable that is the primary source of causation 
C) a caption or explanatory description of the symbols, colors, and measurements used on the graph 
D) the point at which the values of both variables are zero 
E) ancestry 
A) the dependent variable 
B) the variable that is the primary source of causation 
C) a caption or explanatory description of the symbols, colors, and measurements used on the graph 
D) the point at which the values of both variables are zero 
E) ancestry

Question 19

Suppose y is measured on the vertical axis, x is on the horizontal axis, and the various combinations of x and y are shown by a nonvertical straight line. Which of the following must be true?

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. 
E) The value of y is independent of the value of x. 
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. 
E) The value of y is independent of the value of x.

Question 20

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

Exam 2: Understanding Graphs-Appendix

Exhibit 1-15 -Refer to Exhibit 1-13. The reason that Line (a) would shift to the position of Line (b) is

A tangent line is a straight line

A U-shaped curve has a positive slope everywhere.

If slope = -2 for a line on a graph with x on the horizontal axis and y on the vertical axis, then if

Exhibit 1-16 -Refer to Exhibit 1-16. Which graph illustrates a negative relationship between variable X and variable Y initially but then a positive relationship?

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

A straight line tangent to a curved line at a point

One economic application of the slope of a line is

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

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

Exhibit 1-6 -Along the curve in Exhibit 1-4,

Exhibit 1-8 -The slope of the line in Exhibit 1-6 is

The slope of a horizontal line is

A curved line may have a positive slope or a negative slope, but it cannot have both positive and negative areas of slope.

Exhibit 1-7 -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 1-2 -In Exhibit 1-2, at x = 10, the

On a graph, the origin represents

Suppose y is measured on the vertical axis, x is on the horizontal axis, and the various combinations of x and y are shown by a nonvertical straight line. Which of the following must be true?

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

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

Aaggregate Expenditure and Agregate Demand

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

Economic Development

Filters

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