Question 1

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 2

NARRBEGIN: Exhibit 1-7
Exhibit 1-9
  
-Using the values in Exhibit 1-7, calculate the slope of a line graphed with x on the horizontal axis and y on the vertical axis.

Accepted Answer

A)  0.5 
B)  2 
C)  1.5 
D)  100 
E)  the slope cannot be determined without additional information 
A)  0.5 
B)  2 
C)  1.5 
D)  100 
E)  the slope cannot be determined without additional information

Question 3

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 4

NARRBEGIN: Exhibit 1-3
Exhibit 1-3
  
-In Exhibit 1-3, for any value of x, 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 increasing 
E)  slope of line B is negative 
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 increasing 
E)  slope of line B is negative

Question 5

The slope of a line is defined as the

Accepted Answer

A)  change in the value of the variable on the vertical axis divided by the change in the value of the variable on the horizontal axis 
B)  value of the variable on the horizontal axis divided by the value of the intercept on the vertical axis 
C)  change in the value of the variable on the horizontal axis divided by the increase in the value of the variable on the vertical axis 
D)  value of the variable on the vertical axis divided by the value of the variable on the horizontal axis 
E)  change in the value of the variable on the vertical axis times the increase in the value of the variable on the horizontal axis 
A)  change in the value of the variable on the vertical axis divided by the change in the value of the variable on the horizontal axis 
B)  value of the variable on the horizontal axis divided by the value of the intercept on the vertical axis 
C)  change in the value of the variable on the horizontal axis divided by the increase in the value of the variable on the vertical axis 
D)  value of the variable on the vertical axis divided by the value of the variable on the horizontal axis 
E)  change in the value of the variable on the vertical axis times the increase in the value of the variable on the horizontal axis

Question 6

NARRBEGIN: Exhibit 1-2-2
Exhibit 1-5
  
-In Exhibit 1-2, curve B 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

Question 7

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 8

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

Accepted Answer

A) True 
 B)False

Question 9

NARRBEGIN: Exhibit 1-4-1
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 10

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 11

NARRBEGIN: Exhibit 1-1
Exhibit 1-1
  
-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 12

NARRBEGIN: Exhibit 1-14
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 13

The part of a graph that is most applicable to marginal analysis is the

Accepted Answer

A)  origin 
B)  slope 
C)  horizontal axis 
D)  dependent variable 
E)  inverse relation 
A)  origin 
B)  slope 
C)  horizontal axis 
D)  dependent variable 
E)  inverse relation

Question 14

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 15

NARRBEGIN: Exhibit 1-14
Exhibit 1-16
          
-Refer to Exhibit 1-16. Which graph illustrates a positive relationship between variable X and variable Y initially but then a negative relationship?

Accepted Answer

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

Question 16

NARRBEGIN: Exhibit 1-10
Exhibit 1-12
  
-The slope of the line in Exhibit 1-10 is

Accepted Answer

A)  positive and constant 
B)  positive and increasing 
C)  positive and decreasing 
D)  negative and increasing 
E)  negative and decreasing 
A)  positive and constant 
B)  positive and increasing 
C)  positive and decreasing 
D)  negative and increasing 
E)  negative and decreasing

Question 17

NARRBEGIN: Exhibit 1-1
Exhibit 1-1
  
-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 18

The slope of a line

Accepted Answer

A)  can only be calculated for straight lines 
B)  varies at different points along a straight line 
C)  indicates whether or not there is a causal relationship between variables 
D)  is independent of the units of measurement used 
E)  indicates how much the vertical variable changes for a given change in the horizontal variable 
A)  can only be calculated for straight lines 
B)  varies at different points along a straight line 
C)  indicates whether or not there is a causal relationship between variables 
D)  is independent of the units of measurement used 
E)  indicates how much the vertical variable changes for a given change in the horizontal variable

Question 19

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 20

The slope of a steep upward-sloping line is a smaller value than the slope of a nearly flat upward-sloping line.

Accepted Answer

A) True 
 B)False

Exam 1: Appendix: Understanding Graphs

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

NARRBEGIN: Exhibit 1-7 Exhibit 1-9 -Using the values in Exhibit 1-7, calculate the slope of a line graphed with x on the horizontal axis and y on the vertical axis.

A tangent line is a straight line

NARRBEGIN: Exhibit 1-3 Exhibit 1-3 -In Exhibit 1-3, for any value of x, the

The slope of a line is defined as the

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

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

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

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

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

NARRBEGIN: Exhibit 1-1 Exhibit 1-1 -In Exhibit 1-1, point c represents

NARRBEGIN: Exhibit 1-14 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 part of a graph that is most applicable to marginal analysis is the

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?

NARRBEGIN: Exhibit 1-14 Exhibit 1-16 -Refer to Exhibit 1-16. Which graph illustrates a positive relationship between variable X and variable Y initially but then a negative relationship?

NARRBEGIN: Exhibit 1-10 Exhibit 1-12 -The slope of the line in Exhibit 1-10 is

NARRBEGIN: Exhibit 1-1 Exhibit 1-1 -Point b in Exhibit 1-1 represents

The slope of a line

A graph is a

The slope of a steep upward-sloping line is a smaller value than the slope of a nearly flat upward-sloping line.

The Art and Science of Economic Analysis

Economic Tools and Economics Systems

Economic Decision Makers

Demand, Supply, and Markets

Elasticity of Demand and Supply

Consumer Choice and Demand

Production and Cost in the Firm

A: Perfect Competition

B: Perfect Competition

A: Monopoly

B: Monopoly

Monopolistic Competition and Oligopoly

Resource Markets

Labor Markets and Labor Unions

Capital, Interest, and Corporate Finance

Transaction Costs, Imperfect Information, and Behavioral Economics

Economic Regulation and Antitrust Policy

Public Goods and Public Choice

Externalities and the Environment

Income Distribution and Poverty

International Trade

International Finance

Economic Development

Filters

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