Exam 1: Getting Started

-Graph the data in the table above in the figure.Label the axes. a.Is the relationship between X and Y positive or negative? b.What is the slope when X = 4? c.What is the slope when X = 8?

A cross-section graph

If x increases and as a result y decreases,then x and y are

With y measured on the vertical axis and x measured on the horizontal axis,the slope of a straight line is defined as

Which of the following is a positive statement?

-In the above figure,no relationship between x and y is shown in Figure

-In the diagram above,which figure(s)show(s)an inverse relationship between the variables?

As the price of home heating oil rises,families buy less home heating oil.Hence a scatter diagram with the price of home heating oil on the vertical axis and the quantity purchased on the horizontal axis reveals a ________ relationship.

A slope is measured as the

The additional benefit of increasing some activity by one unit is called the

Economics is the social science that studies

Suppose that your public library charges a fixed monthly membership fee of $12.Members are allowed to check out as many books as they want under this plan.The average member checks out 4 books per month.Suppose that your public library changes its policy.Now each book costs $3 to check out but there is no longer a monthly membership fee.What effect do you think the new policy will have on the total number of books checked out from your library each month? The new policy is likely to ______the number of books checked out because ________.

A graph shows the wage rate of factory workers.The slope of the line is positive for periods when the wage rate is

-What does the slope of the line shown in the above figure equal?

-The relationship between distance traveled in five hours and speed shown in the figure above is

-The figure above shows the relationship between study time and the number of problems worked.The curve becomes less steep because as you study more,

The question "Will doctors or lawyers have higher annual incomes?" represents which of the three basic economic questions?

What is the difference between microeconomics and macroeconomics?

If x increases whenever y decreases,then x and y are

What is an opportunity cost? Give an example.