Question 1

The purpose of invoking ceteris paribus is to:

Accepted Answer

A)  simplify the analysis being done. 
B)  make the economic model more realistic. 
C)  allow the model to take more complexity into account. 
D)  introduce risk into the model. 
A)  simplify the analysis being done. 
B)  make the economic model more realistic. 
C)  allow the model to take more complexity into account. 
D)  introduce risk into the model.

Question 2

The problem of the medically uninsured involves:

Accepted Answer

A)  opportunity cost. 
B)  equity. 
C)  production efficiency. 
D)  allocative efficiency. 
A)  opportunity cost. 
B)  equity. 
C)  production efficiency. 
D)  allocative efficiency.

Question 3

Use the following to answer question
Figure: Crop Yield and Fertilizer  
-(Figure: Crop Yield and Fertilizer)The graph shows a hypothetical relationship between tons of fertilizer used and crop yields.Which of the following is NOT correct?

Accepted Answer

A)  The slope of the curve between one and two tons of fertilizer is approximately 2. 
B)  The relationship between fertilizer usage and yield is nonlinear. 
C)  Because the relationship is nonlinear,it is difficult to create an economic model describing the relationship between the two variables. 
D)  Using more than three tons of fertilizer has minimal effect on yield. 
A)  The slope of the curve between one and two tons of fertilizer is approximately 2. 
B)  The relationship between fertilizer usage and yield is nonlinear. 
C)  Because the relationship is nonlinear,it is difficult to create an economic model describing the relationship between the two variables. 
D)  Using more than three tons of fertilizer has minimal effect on yield.

Question 4

Use the following to answer questions 
Figure: Graph Interpretation  
-(Figure: Graph Interpretation)In the graph,_____ is the dependent variable and the slope of the line is _____.

Accepted Answer

A)  R;negative 
B)  R;positive 
C)  S;negative 
D)  S;positive 
A)  R;negative 
B)  R;positive 
C)  S;negative 
D)  S;positive

Question 5

Marginal analysis would put an emphasis on:

Accepted Answer

A)  total monetary costs and benefits. 
B)  total opportunity costs and benefits. 
C)  additional costs and benefits. 
D)  total tangible costs and benefits. 
A)  total monetary costs and benefits. 
B)  total opportunity costs and benefits. 
C)  additional costs and benefits. 
D)  total tangible costs and benefits.

Question 6

What assumption about human motivation is made in economics? Explain.

Accepted Answer

In economics,we assume that people act a

The purpose of invoking ceteris paribus is to:

The problem of the medically uninsured involves:

Use the following to answer question Figure: Crop Yield and Fertilizer -(Figure: Crop Yield and Fertilizer)The graph shows a hypothetical relationship between tons of fertilizer used and crop yields.Which of the following is NOT correct?

Use the following to answer questions Figure: Graph Interpretation -(Figure: Graph Interpretation)In the graph,_ is the dependent variable and the slope of the line is _.

Marginal analysis would put an emphasis on:

What assumption about human motivation is made in economics? Explain.

Production, Economic Growth, and Trade

Supply and Demand

Markets and Government

Introduction to Macroeconomics

Measuring Inflation and Unemployment

Economic Growth

Aggregate Expenditures

Aggregate Demand and Supply

Fiscal Policy and Debt

Saving, Investment, and the Financial System

Money Creation and the Federal Reserve

Monetary Policy

Macroeconomic Policy: Challenges in a Global Economy

International Trade

Open Economy Macroeconomic

Filters

Exam 1: Exploring Economics

The purpose of invoking ceteris paribus is to:

The problem of the medically uninsured involves:

Use the following to answer question Figure: Crop Yield and Fertilizer -(Figure: Crop Yield and Fertilizer)The graph shows a hypothetical relationship between tons of fertilizer used and crop yields.Which of the following is NOT correct?

Use the following to answer questions Figure: Graph Interpretation -(Figure: Graph Interpretation)In the graph,_____ is the dependent variable and the slope of the line is _____.

Marginal analysis would put an emphasis on:

What assumption about human motivation is made in economics? Explain.

Production, Economic Growth, and Trade

Supply and Demand

Markets and Government

Introduction to Macroeconomics

Measuring Inflation and Unemployment

Economic Growth

Aggregate Expenditures

Aggregate Demand and Supply

Fiscal Policy and Debt

Saving, Investment, and the Financial System

Money Creation and the Federal Reserve

Monetary Policy

Macroeconomic Policy: Challenges in a Global Economy

International Trade

Open Economy Macroeconomic

Filters

Use the following to answer questions Figure: Graph Interpretation -(Figure: Graph Interpretation)In the graph,_ is the dependent variable and the slope of the line is _.