Question 1

In the graph of a curve, the vertical intercept is:

Accepted Answer

A) the value of the y-variable when the value of the x-variable is equal to zero. 
B) the change in the y-variable between two points divided by the change in the x-variable between those same two points. 
C) the value of the y-variable when the value of the slope is equal to zero. 
D) the value of the x-variable when the value of the y-variable is equal to zero. 
A) the value of the y-variable when the value of the x-variable is equal to zero. 
B) the change in the y-variable between two points divided by the change in the x-variable between those same two points. 
C) the value of the y-variable when the value of the slope is equal to zero. 
D) the value of the x-variable when the value of the y-variable is equal to zero.

Question 2

A town hires more police officers and then has an increase in arrests. One can conclude that the larger police force caused more crime.

Accepted Answer

A) True 
 B)False

Question 3

Use the following to answer questions :
Figure: Illustrating Slope  
-(Figure: Illustrating Slope) Look at the figure Illustrating Slope. In the graph, line 3 depicts X and Y to be:

Accepted Answer

A) positively related. 
B) unrelated. 
C) negatively related. 
D) both constants. 
A) positively related. 
B) unrelated. 
C) negatively related. 
D) both constants.

Question 4

Use the following to answer questions :
Figure: Demand and Supply of Shirts  
-(Figure: Demand and Supply of Shirts) Look at the figure Demand and Supply of Shirts. If the line labeled S shows how many shirts per week will be offered for sale at various prices, then it is clear that for supply, quantity and price are:

Accepted Answer

A) the same. 
B) positively related. 
C) negatively related. 
D) not related. 
A) the same. 
B) positively related. 
C) negatively related. 
D) not related.

Question 5

If two points on a graph are (0, 8) and (12,15):

Accepted Answer

A) X is 0 when Y is 12. 
B) X and Y have a positive relation. 
C) the horizontal intercept is given by the point (0, 8). 
D) the slope of a line connecting the two points is negative. 
A) X is 0 when Y is 12. 
B) X and Y have a positive relation. 
C) the horizontal intercept is given by the point (0, 8). 
D) the slope of a line connecting the two points is negative.

Question 6

Use the following to answer questions :
Figure: Seasonally Adjusted Unemployment Rate  
-(Figure: Seasonally Adjusted Unemployment Rate) Look at the figure Seasonally Adjusted Unemployment Rate. The distance between each labeled point on the horizontal axis is one year. What is the approximate slope of the graph between 1/2001 and 1/2003?

Accepted Answer

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

Question 7

If a supply curve is represented by the equation Q = 10 + 2P, what is its slope?

Accepted Answer

A) 1/2 
B) 1 
C) 2 
D) 5 
A) 1/2 
B) 1 
C) 2 
D) 5

Question 8

If two variables are positively related, on a graph they will always be represented by:

Accepted Answer

A) a line or curve that slopes downward. 
B) a straight line. 
C) a horizontal line. 
D) a line or curve that slopes upward. 
A) a line or curve that slopes downward. 
B) a straight line. 
C) a horizontal line. 
D) a line or curve that slopes upward.

Question 9

Professor Macro wants to use a numerical graph to show the percentage of government spending accounted for by its various components. Which of the following graphs is most suitable for this purpose?

Accepted Answer

A) bar graph 
B) pie chart 
C) time-series graph 
D) scatter diagram 
A) bar graph 
B) pie chart 
C) time-series graph 
D) scatter diagram

Question 10

Use the following to answer questions :  
-(Table: Price, Quantity Demanded, and Quantity Supplied) Look at the table Price, Quantity Demanded, and Quantity Supplied. The slope of the line representing the relationship between price on the vertical axis and quantity demanded on the horizontal axis is:

Accepted Answer

A) equal to 1/2. 
B) equal to 1. 
C) equal to 2. 
D) different at different points on the line. 
A) equal to 1/2. 
B) equal to 1. 
C) equal to 2. 
D) different at different points on the line.

Question 11

Use the following to answer questions :
Figure: Demand and Supply of Shirts  
-(Figure: Demand and Supply of Shirts) Look at the figure Demand and Supply of Shirts. In the graph, if the line labeled D shows how many shirts per week will be demanded at various prices, then it is clear that as the price of shirts falls:

Accepted Answer

A) fewer shirts will be demanded. 
B) more shirts will be demanded. 
C) the same quantity of shirts will be demanded. 
D) it is unclear what will happen to the demand for shirts. 
A) fewer shirts will be demanded. 
B) more shirts will be demanded. 
C) the same quantity of shirts will be demanded. 
D) it is unclear what will happen to the demand for shirts.

Question 12

A bar graph:

Accepted Answer

A) shows the relative amounts attributable to different categories. 
B) may be shown by vertical bars to illustrate the comparative sizes of different observations. 
C) may be shown by horizontal bars to illustrate the comparative sizes of different observations. 
D) A, B, and C. 
A) shows the relative amounts attributable to different categories. 
B) may be shown by vertical bars to illustrate the comparative sizes of different observations. 
C) may be shown by horizontal bars to illustrate the comparative sizes of different observations. 
D) A, B, and C.

Question 13

In a time-series graph, large changes can be made to appear trivial by:

Accepted Answer

A) changing the scale of the axes. 
B) labeling more intervals. 
C) defining the dependent variable. 
D) defining the independent variable. 
A) changing the scale of the axes. 
B) labeling more intervals. 
C) defining the dependent variable. 
D) defining the independent variable.

Question 14

Use the following to answer questions :
Figure: Slope  
-(Figure: Slope) Look at the figure Slope. The slope of the line in the graph can be calculated by:

Accepted Answer

A) dividing the horizontal change by the vertical change. 
B) dividing the vertical change by the horizontal change. 
C) subtracting the sum of the Y values from the sum of the X values. 
D) adding the sum of the X values to the sum of the Y values. 
A) dividing the horizontal change by the vertical change. 
B) dividing the vertical change by the horizontal change. 
C) subtracting the sum of the Y values from the sum of the X values. 
D) adding the sum of the X values to the sum of the Y values.

Question 15

Your boss asks you to graph company profits for the past 10 years. The best way to show this information is with:

Accepted Answer

A) a scatter diagram. 
B) a pie chart. 
C) a time-series graph. 
D) an independent graph. 
A) a scatter diagram. 
B) a pie chart. 
C) a time-series graph. 
D) an independent graph.

In the graph of a curve, the vertical intercept is:

A town hires more police officers and then has an increase in arrests. One can conclude that the larger police force caused more crime.

Use the following to answer questions : Figure: Illustrating Slope -(Figure: Illustrating Slope) Look at the figure Illustrating Slope. In the graph, line 3 depicts X and Y to be:

If two points on a graph are (0, 8) and (12,15):

If a supply curve is represented by the equation Q = 10 + 2P, what is its slope?

If two variables are positively related, on a graph they will always be represented by:

Professor Macro wants to use a numerical graph to show the percentage of government spending accounted for by its various components. Which of the following graphs is most suitable for this purpose?

Use the following to answer questions : -(Table: Price, Quantity Demanded, and Quantity Supplied) Look at the table Price, Quantity Demanded, and Quantity Supplied. The slope of the line representing the relationship between price on the vertical axis and quantity demanded on the horizontal axis is:

A bar graph:

In a time-series graph, large changes can be made to appear trivial by:

Use the following to answer questions : Figure: Slope -(Figure: Slope) Look at the figure Slope. The slope of the line in the graph can be calculated by:

Your boss asks you to graph company profits for the past 10 years. The best way to show this information is with:

First Principles

Economic Models

Supply and Demand

International Trade 5

Macroeconomics: the Big Picture

Gdp and Cpi: Tracking the Macroeconomy

Unemployment and Inflation

Long-Run Economic Growth

Savings, Investment Spending, and the Financial System

Fiscal Policy Appendix Taxes and the Multiplier

Money, Banking, and the Federal Reserve System

Monetary Policy

Inflation, Disinflation, and Deflation

Crises and Consequences

Events and Ideas

Open-Economy Macroeconomics

toward a Fuller Understanding of Present Value

Filters

Exam 20: Graphs in Economics

In the graph of a curve, the vertical intercept is:

A town hires more police officers and then has an increase in arrests. One can conclude that the larger police force caused more crime.

Use the following to answer questions : Figure: Illustrating Slope -(Figure: Illustrating Slope) Look at the figure Illustrating Slope. In the graph, line 3 depicts X and Y to be:

If two points on a graph are (0, 8) and (12,15):

If a supply curve is represented by the equation Q = 10 + 2P, what is its slope?

If two variables are positively related, on a graph they will always be represented by:

Professor Macro wants to use a numerical graph to show the percentage of government spending accounted for by its various components. Which of the following graphs is most suitable for this purpose?

A bar graph:

In a time-series graph, large changes can be made to appear trivial by:

Use the following to answer questions : Figure: Slope -(Figure: Slope) Look at the figure Slope. The slope of the line in the graph can be calculated by:

Your boss asks you to graph company profits for the past 10 years. The best way to show this information is with:

First Principles

Economic Models

Supply and Demand

International Trade 5

Macroeconomics: the Big Picture

Gdp and Cpi: Tracking the Macroeconomy

Unemployment and Inflation

Long-Run Economic Growth

Savings, Investment Spending, and the Financial System

Fiscal Policy Appendix Taxes and the Multiplier

Money, Banking, and the Federal Reserve System

Monetary Policy

Inflation, Disinflation, and Deflation

Crises and Consequences

Events and Ideas

Open-Economy Macroeconomics

toward a Fuller Understanding of Present Value

Filters