Question 1

Which of the following is not correct?

Accepted Answer

A) The slope of a line will be a small positive number for a fairly flat upward-sloping line. 
B) The slope of a line will be a large positive number for a steep upward-sloping line. 
C) The slope of a line will be a negative number for a downward-sloping line. 
D) The slope of a line will be infinite for a horizontal line. 
A) The slope of a line will be a small positive number for a fairly flat upward-sloping line. 
B) The slope of a line will be a large positive number for a steep upward-sloping line. 
C) The slope of a line will be a negative number for a downward-sloping line. 
D) The slope of a line will be infinite for a horizontal line.

Question 2

The point where both x and y are zero is known as the

Accepted Answer

A) origin. 
B) null. 
C) zero coordinate. 
D) center. 
A) origin. 
B) null. 
C) zero coordinate. 
D) center.

Question 3

Figure 2-18
Relationship between Price and Restaurant Meals  
-Refer to Figure 2-18.The slope of the line containing points Y and Z is

Accepted Answer

A) -0.5. 
B) -1. 
C) -2. 
D) -4. 
A) -0.5. 
B) -1. 
C) -2. 
D) -4.

Question 4

When two variables have a positive correlation,

Accepted Answer

A) when the x-variable increases,the y-variable decreases. 
B) when the x-variable decreases,the y-variable increases. 
C) when the x-variable increases,the y-variable increases. 
D) More than one of the above is correct. 
A) when the x-variable increases,the y-variable decreases. 
B) when the x-variable decreases,the y-variable increases. 
C) when the x-variable increases,the y-variable increases. 
D) More than one of the above is correct.

Question 5

The second number in any ordered pair is

Accepted Answer

A) the x-coordinate. 
B) the y-coordinate. 
C) the horizontal location of the point. 
D) the slope. 
A) the x-coordinate. 
B) the y-coordinate. 
C) the horizontal location of the point. 
D) the slope.

Question 6

Figure 2-18
Relationship between Price and Restaurant Meals  
-Refer to Figure 2-18.A movement from point A to point B is called

Accepted Answer

A) a shift in demand. 
B) a movement along the demand curve. 
C) a shift in supply. 
D) a movement along the supply curve. 
A) a shift in demand. 
B) a movement along the demand curve. 
C) a shift in supply. 
D) a movement along the supply curve.

Question 7

The y-coordinate is the

Accepted Answer

A) first number of an ordered pair and represents the point's horizontal location. 
B) second number of an ordered pair and represents the point's horizontal location. 
C) first number of an ordered pair and represents the point's vertical location. 
D) second number of an ordered pair and represents the point's vertical location. 
A) first number of an ordered pair and represents the point's horizontal location. 
B) second number of an ordered pair and represents the point's horizontal location. 
C) first number of an ordered pair and represents the point's vertical location. 
D) second number of an ordered pair and represents the point's vertical location.

Question 8

A demand curve shows the relationship

Accepted Answer

A) between income and quantity demanded. 
B) between price and income. 
C) between price and quantity demanded. 
D) among income,price,and quantity demanded. 
A) between income and quantity demanded. 
B) between price and income. 
C) between price and quantity demanded. 
D) among income,price,and quantity demanded.

Question 9

The y-coordinate of an ordered pair specifies the

Accepted Answer

A) diagonal location of the point. 
B) vertical location of the point. 
C) horizontal location of the point. 
D) quadrant location in which the point is located. 
A) diagonal location of the point. 
B) vertical location of the point. 
C) horizontal location of the point. 
D) quadrant location in which the point is located.

Question 10

The use of the coordinate system allows

Accepted Answer

A) for the display of the flows of dollars,goods and services,and factors of production in an economic system. 
B) for the display of how labor and other resources are organized in the production process. 
C) for the display of two variables on a single graph. 
D) for the creation of pie charts and bar graphs. 
A) for the display of the flows of dollars,goods and services,and factors of production in an economic system. 
B) for the display of how labor and other resources are organized in the production process. 
C) for the display of two variables on a single graph. 
D) for the creation of pie charts and bar graphs.

Question 11

A relatively steep demand curve indicates that

Accepted Answer

A) quantity demanded will adjust only slightly to a price change. 
B) quantity demanded will adjust significantly to a price change. 
C) quantity demanded will not adjust to a price change. 
D) the change in quantity demanded will exactly equal a change in price. 
A) quantity demanded will adjust only slightly to a price change. 
B) quantity demanded will adjust significantly to a price change. 
C) quantity demanded will not adjust to a price change. 
D) the change in quantity demanded will exactly equal a change in price.

Question 12

When two variables move in the same direction,the curve relating them is

Accepted Answer

A) upward sloping,and we say the variables are positively related. 
B) upward sloping,and we say the variables are negatively related. 
C) downward sloping,and we say the variables are positively related. 
D) downward sloping,and we say the variables are negatively related. 
A) upward sloping,and we say the variables are positively related. 
B) upward sloping,and we say the variables are negatively related. 
C) downward sloping,and we say the variables are positively related. 
D) downward sloping,and we say the variables are negatively related.

Question 13

The ordered pair that represents the origin on a graph is

Accepted Answer

A) (1,1). 
B) (0,0). 
C) (-1,-1). 
D) (   ). 
A) (1,1). 
B) (0,0). 
C) (-1,-1). 
D) (   ).

Question 14

Figure 2-19
In the following graph the x-axis shows the number of times a commuter rail train stops at a station per hour and the y-axis shows the number of commuter rail passengers per hour.
Commuter Rail Passengers by Frequency of Service  
-Refer to Figure 2-19.A policymaker observes this graph and concludes that increasing the frequency of commuter rail service is a certain way to get more commuters to choose the commuter rail instead of driving their own cars.You warn the policymaker about making a reverse causality mistake with which of the following statements?

Accepted Answer

A) Higher gas prices are causing more people to choose the commuter rail over driving. 
B) The service frequency was increased in response to an increase in the number of passengers per hour. 
C) There is a positive relationship between frequency of stops and number of passengers. 
D) None of the above is correct. 
A) Higher gas prices are causing more people to choose the commuter rail over driving. 
B) The service frequency was increased in response to an increase in the number of passengers per hour. 
C) There is a positive relationship between frequency of stops and number of passengers. 
D) None of the above is correct.

Question 15

Figure 2-18
Relationship between Price and Restaurant Meals  
-Refer to Figure 2-18.Which of the following could result in a movement from point A to point B?

Accepted Answer

A) a change in income 
B) a change in the cost of producing a restaurant meal 
C) a change in the price of restaurant meals 
D) a change in the price of movies 
A) a change in income 
B) a change in the cost of producing a restaurant meal 
C) a change in the price of restaurant meals 
D) a change in the price of movies

Question 16

Which of the following is not held constant when looking at an individual's demand curve?

Accepted Answer

A) income 
B) price 
C) preferences 
D) the availability of alternative goods 
A) income 
B) price 
C) preferences 
D) the availability of alternative goods

Question 17

Figure 2-17  
-Refer to Figure 2-17.The slope of the curve between points A and B is

Accepted Answer

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

Question 18

In the early 19th century,the Russian government sent doctors to southern Russian villages to provide assistance during a cholera epidemic.The villagers noticed that wherever doctors appeared,people died.Therefore,many doctors were chased away from villages,and some were even killed.This reaction to the correlation between doctors and deaths is most likely a problem of

Accepted Answer

A) omitted variables. 
B) reverse causality. 
C) government propaganda. 
D) medical incompetence. 
A) omitted variables. 
B) reverse causality. 
C) government propaganda. 
D) medical incompetence.

Question 19

When two variables have a positive correlation,

Accepted Answer

A) they tend to move in opposite directions. 
B) they tend to move in the same direction. 
C) one variable will move while the other remains constant. 
D) the variables' values are never negative. 
A) they tend to move in opposite directions. 
B) they tend to move in the same direction. 
C) one variable will move while the other remains constant. 
D) the variables' values are never negative.

Question 20

The first number in any ordered pair is

Accepted Answer

A) the x-coordinate. 
B) the y-coordinate. 
C) the vertical location of the point. 
D) the slope. 
A) the x-coordinate. 
B) the y-coordinate. 
C) the vertical location of the point. 
D) the slope.

Exam 2: Thinking Like an Economist: Graphing a Brief Review

Which of the following is not correct?

The point where both x and y are zero is known as the

Figure 2-18 Relationship between Price and Restaurant Meals -Refer to Figure 2-18.The slope of the line containing points Y and Z is

When two variables have a positive correlation,

The second number in any ordered pair is

Figure 2-18 Relationship between Price and Restaurant Meals -Refer to Figure 2-18.A movement from point A to point B is called

The y-coordinate is the

A demand curve shows the relationship

The y-coordinate of an ordered pair specifies the

The use of the coordinate system allows

A relatively steep demand curve indicates that

When two variables move in the same direction,the curve relating them is

The ordered pair that represents the origin on a graph is

Figure 2-18 Relationship between Price and Restaurant Meals -Refer to Figure 2-18.Which of the following could result in a movement from point A to point B?

Which of the following is not held constant when looking at an individual's demand curve?

Figure 2-17 -Refer to Figure 2-17.The slope of the curve between points A and B is

When two variables have a positive correlation,

The first number in any ordered pair is

Ten Principles of Economics

Ten Principles of Economics: How People Make Decisions

Ten Principles of Economics: How People Interact

Ten Principles of Economics: How the Economy As a Whole Works

Ten Principles of Economics: Part A

Ten Principles of Economics: Part B

Thinking Like an Economist

Thinking Like an Economist: The Economist As Scientist

Thinking Like an Economist: The Economist As Policy Adviser

Thinking Like an Economist: Why Economists Disagree

Thinking Like an Economist: Lets Get Going

Thinking Like an Economist: Part A

Thinking Like an Economist: Part B

Interdependence and the Gains From Trade

Interdependence and the Gains From Trade: A Parable for the Modern Economy

Interdependence and the Gains From Trade: Comparative Advantage the Driving Force of Specialization

Interdependence and the Gains From Trade: Applications of Comparative Advantage

Interdependence and the Gains From Trade: Conclusion

Interdependence and the Gains From Trade: Part A

Interdependence and the Gains From Trade: Part B

The Market Forces of Supply and Demand

The Market Forces of Supply and Demand:Markets and Competition

The Market Forces of Supply and Demand: Demand

The Market Forces of Supply and Demand: Supply

The Market Forces of Supply and Demand: Supply and Demand Together

The Market Forces of Supply and DemandConclusion How Prices Allocate Resources

The Market Forces of Supply and Demand: Part A

The Market Forces of Supply and Demand: Part B

Elasticity and Its Applications

Elasticity and Its Applications: The Elasticity of Demand

Elasticity and Its Applications: The Elasticity of Supply

Elasticity and Its Applications: Three Applications of Supply,demand,and Elasticity

Elasticity and Its Applications: Part A

Elasticity and Its Applications: Part B

Supply Demand and Government Policies

Supply Demand and Government Policies: Controls on Prices

Supply Demand and Government Policies: Taxes

Supply Demand and Government Policies: Part A

Supply Demand and Government Policies: Part B

Consumers Producers and the Efficiency of Markets

Consumers Producers and the Efficiency of Markets: Consumer Surplus

Consumers Producers and the Efficiency of Markets: Producer Surplus

Consumers Producers and the Efficiency of Markets: Market Efficiency

Consumers Producers and the Efficiency of Markets: Conclusion Market Efficiency and Market Failure

Consumers Producers and the Efficiency of Markets: Part A

Consumers Producers and the Efficiency of Markets: Part B

Application the Cost of Taxation

Application the Cost of Taxation: The Deadweight Loss of Taxation

Application the Cost of Taxation: The Determinants of the Deadweight Loss

Application the Cost of Taxation: Deadweight Loss and Tax Revenue As Taxes Vary

Application the Cost of Taxation: Conclusion

Application the Cost of Taxation: Part A

Application the Cost of Taxation: Part B

Application International Trade

Application International Trade: The Determinants of Trade

Application International Trade: The Winners and Losers From Trade

Application International Trade: The Arguments for Restricting Trade

Application International Trade: Conclusion

Application International Trade: Part A

Application International Trade: Part B

Measuring a Nations Income