Question 1

Use the figure below to answer the following questions.   Figure 1A.2.4
-Refer to Figure 1A.2.4.Which one of the graphs shows a negative relationship between x and y?

Accepted Answer

A) (a) 
B) (b) 
C) (c) 
D) (d) 
E) both (a)and (d) 
A) (a) 
B) (b) 
C) (c) 
D) (d) 
E) both (a)and (d)

Question 2

Use the figure below to answer the following questions.   Figure 1A.4.3
-In Figure 1A.4.3,x is

Accepted Answer

A) positively related to y and negatively related to z. 
B) positively related to both y and z. 
C) negatively related to y and positively related to z. 
D) negatively related to both y and z. 
E) greater than z. 
A) positively related to y and negatively related to z. 
B) positively related to both y and z. 
C) negatively related to y and positively related to z. 
D) negatively related to both y and z. 
E) greater than z.

Question 3

Given the data in Table 1A.4.2,suppose family income decreases from $400 to $300 per week.Then the graph relating the price of strawberries,measured on the y-axis and the number of boxes of strawberries purchased,measured on the x-axis will

Accepted Answer

A) become negatively sloped. 
B) become positively sloped. 
C) shift rightward. 
D) shift leftward. 
E) no longer exist. 
A) become negatively sloped. 
B) become positively sloped. 
C) shift rightward. 
D) shift leftward. 
E) no longer exist.

Question 4

Use the figure below to answer the following questions.   Figure 1A.1.2
-Refer to Figure 1A.1.2.If x decreases from 5 to 4,y

Accepted Answer

A) decreases from 4 to 3. 
B) decreases from 4 to 3 1/2. 
C) decreases from 4 to 2. 
D) increases from 4 to 5. 
E) increases from 3 1/2 to 4. 
A) decreases from 4 to 3. 
B) decreases from 4 to 3 1/2. 
C) decreases from 4 to 2. 
D) increases from 4 to 5. 
E) increases from 3 1/2 to 4.

Question 5

Use the figure below to answer the following question.   Figure 1A.3.2
-Refer to Figure 1A.3.2.The slope across the arc between A and B is

Accepted Answer

A) 1/2. 
B) 2/3. 
C) 1. 
D) 2. 
E) 3. 
A) 1/2. 
B) 2/3. 
C) 1. 
D) 2. 
E) 3.

Question 6

Sally has to decide whether to study for her economics test or her accounting test.If she chooses to study for accounting,her opportunity cost of studying accounting is

Accepted Answer

A) studying economics. 
B) less than the value of studying economics. 
C) not comparable to the value of studying economics. 
D) equal to the value of studying economics. 
E) the future lost wages that will occur if she fails her accounting exam. 
A) studying economics. 
B) less than the value of studying economics. 
C) not comparable to the value of studying economics. 
D) equal to the value of studying economics. 
E) the future lost wages that will occur if she fails her accounting exam.

Question 7

Use the figure below to answer the following questions.   Figure 1A.2.1
-Refer to Figure 1A.2.1.Which graph or graphs indicates a negative relationship between x and y?

Accepted Answer

A) (a) 
B) (b) 
C) (c) 
D) (d) 
E) (b)and (d) 
A) (a) 
B) (b) 
C) (c) 
D) (d) 
E) (b)and (d)

Question 8

Use the figure below to answer the following question.   Figure 1A.5.4
-Refer to Figure 1A.5.4.The graph shows the relationship between two variables,x and y.This relationship is described by the equation

Accepted Answer

A) y = 5x2 + 10. 
B) y = 10x + 5. 
C) y = -5x + 10. 
D) y = 5x + 10. 
E) x = 10 + 5y. 
A) y = 5x2 + 10. 
B) y = 10x + 5. 
C) y = -5x + 10. 
D) y = 5x + 10. 
E) x = 10 + 5y.

Question 9

Consider the data in Table 1A.4.1.Suppose z increases from 4 to 5.What will happen to the graph of the relationship between x and y?

Accepted Answer

A) It will shift to the right. 
B) It will shift to the left. 
C) It will become positively sloped. 
D) both A and C 
E) both B and C 
A) It will shift to the right. 
B) It will shift to the left. 
C) It will become positively sloped. 
D) both A and C 
E) both B and C

Question 10

The study of how wages are set for New Brunswick teachers is classified as

Accepted Answer

A) a macroeconomic topic. 
B) a microeconomic topic. 
C) economics of social interest. 
D) economics of private interest. 
E) normative economics. 
A) a macroeconomic topic. 
B) a microeconomic topic. 
C) economics of social interest. 
D) economics of private interest. 
E) normative economics.

Question 11

"There can be too much of a good thing." This statement suggests that

Accepted Answer

A) choices made in self-interest cannot be applied to many economic decisions. 
B) a good may be produced to the point where its marginal cost exceeds its marginal benefit. 
C) certain goods and services such as education and health care are inherently desirable and should be produced regardless of costs and benefits. 
D) a good may be produced to the point where its marginal benefit exceeds its marginal cost. 
E) a good may be produced to the point where its marginal benefit is equal to its marginal cost. 
A) choices made in self-interest cannot be applied to many economic decisions. 
B) a good may be produced to the point where its marginal cost exceeds its marginal benefit. 
C) certain goods and services such as education and health care are inherently desirable and should be produced regardless of costs and benefits. 
D) a good may be produced to the point where its marginal benefit exceeds its marginal cost. 
E) a good may be produced to the point where its marginal benefit is equal to its marginal cost.

Question 12

Monika will choose to eat a seventh pizza slice if

Accepted Answer

A) the marginal benefit from the seventh slice is greater than its marginal cost. 
B) the marginal benefit from the seventh slice is less than its marginal cost. 
C) the total benefit from all seven slices is greater than their total cost. 
D) the total benefit from all seven slices is less than their total cost. 
E) she has enough money to pay for it. 
A) the marginal benefit from the seventh slice is greater than its marginal cost. 
B) the marginal benefit from the seventh slice is less than its marginal cost. 
C) the total benefit from all seven slices is greater than their total cost. 
D) the total benefit from all seven slices is less than their total cost. 
E) she has enough money to pay for it.

Question 13

The equation of a line is y = 4 + 2x.What is the slope of this line?

Accepted Answer

A) 4 
B) 2 
C) 1/2 
D) 1/4 
E) 0 
A) 4 
B) 2 
C) 1/2 
D) 1/4 
E) 0

Question 14

Which one of the following news headlines definitely concerns the social interest?

Accepted Answer

A) McDonald's Moves into Salads 
B) Starbucks Expands in China 
C) E Coli Test Results Must be Posted on Beaches 
D) Pumpkin Spice Lattes Available Now! 
E) The Maple Leafs Win the Stanley Cup 
A) McDonald's Moves into Salads 
B) Starbucks Expands in China 
C) E Coli Test Results Must be Posted on Beaches 
D) Pumpkin Spice Lattes Available Now! 
E) The Maple Leafs Win the Stanley Cup

Question 15

Given the data in Table 1A.4.2,holding income constant,the graph relating the price of strawberries,measured on the y-axis and the purchases of strawberries,measured on the x-axis

Accepted Answer

A) is a vertical line. 
B) is a horizontal line. 
C) is a positively sloped line. 
D) is a negatively sloped line. 
E) reaches a minimum. 
A) is a vertical line. 
B) is a horizontal line. 
C) is a positively sloped line. 
D) is a negatively sloped line. 
E) reaches a minimum.

Question 16

Use the figure below to answer the following question.   Figure 1A.2.3
-In Figure 1A.2.3,the variables x and y

Accepted Answer

A) move in the same direction. 
B) are negatively related. 
C) are always equal. 
D) are unrelated 
E) are positively related. 
A) move in the same direction. 
B) are negatively related. 
C) are always equal. 
D) are unrelated 
E) are positively related.

Question 17

According to the U.S.Bureau of Labor Statistics,between 2014 and 2024

Accepted Answer

A) budget analyst jobs are expected to grow by less than overall employment growth because these jobs are easy to replace with artificial intelligence. 
B) jobs for those with a Ph.D.in economics are forecasted to grow faster than overall employment growth because government jobs for economists are expected to expand. 
C) financial analyst jobs are expected to grow by less than overall employment growth. 
D) market research analyst jobs are expected to grow by less than overall employment growth. 
E) budget analyst jobs are expected to grow by less than overall employment growth because these jobs will be replaced by people with bookkeeping skills. 
A) budget analyst jobs are expected to grow by less than overall employment growth because these jobs are easy to replace with artificial intelligence. 
B) jobs for those with a Ph.D.in economics are forecasted to grow faster than overall employment growth because government jobs for economists are expected to expand. 
C) financial analyst jobs are expected to grow by less than overall employment growth. 
D) market research analyst jobs are expected to grow by less than overall employment growth. 
E) budget analyst jobs are expected to grow by less than overall employment growth because these jobs will be replaced by people with bookkeeping skills.

Question 18

Use the table below to answer the following questions.
Table 1A.3.2
  
-In Table 1A.3.2,suppose that w is measured along the x-axis.The slope of the line relating w and u is

Accepted Answer

A) positive with a decreasing slope. 
B) negative with a decreasing slope. 
C) positive with an increasing slope. 
D) negative with a constant slope. 
E) positive with a constant slope. 
A) positive with a decreasing slope. 
B) negative with a decreasing slope. 
C) positive with an increasing slope. 
D) negative with a constant slope. 
E) positive with a constant slope.

Question 19

Complete the following sentence.Capital is

Accepted Answer

A) money in the bank. 
B) the knowledge and skill that people obtain from education,on-the-job training,and work experience. 
C) the tools,instruments,machines,buildings,and other constructions that businesses use to produce goods and services. 
D) composed of financial investment and commodities such as gold and silver. 
E) traded in stock markets and bond markets. 
A) money in the bank. 
B) the knowledge and skill that people obtain from education,on-the-job training,and work experience. 
C) the tools,instruments,machines,buildings,and other constructions that businesses use to produce goods and services. 
D) composed of financial investment and commodities such as gold and silver. 
E) traded in stock markets and bond markets.

Question 20

The relationship between two variables that are positively related is shown graphically by a line that

Accepted Answer

A) slopes upward to the right. 
B) is horizontal. 
C) slopes downward to the right. 
D) is vertical. 
E) is above the x-axis and to the right of the y-axis. 
A) slopes upward to the right. 
B) is horizontal. 
C) slopes downward to the right. 
D) is vertical. 
E) is above the x-axis and to the right of the y-axis.

Use the figure below to answer the following questions. Figure 1A.2.4 -Refer to Figure 1A.2.4.Which one of the graphs shows a negative relationship between x and y?

Use the figure below to answer the following questions. Figure 1A.4.3 -In Figure 1A.4.3,x is

Given the data in Table 1A.4.2,suppose family income decreases from $400 to $300 per week.Then the graph relating the price of strawberries,measured on the y-axis and the number of boxes of strawberries purchased,measured on the x-axis will

Use the figure below to answer the following questions. Figure 1A.1.2 -Refer to Figure 1A.1.2.If x decreases from 5 to 4,y

Use the figure below to answer the following question. Figure 1A.3.2 -Refer to Figure 1A.3.2.The slope across the arc between A and B is

Sally has to decide whether to study for her economics test or her accounting test.If she chooses to study for accounting,her opportunity cost of studying accounting is

Use the figure below to answer the following questions. Figure 1A.2.1 -Refer to Figure 1A.2.1.Which graph or graphs indicates a negative relationship between x and y?

Use the figure below to answer the following question. Figure 1A.5.4 -Refer to Figure 1A.5.4.The graph shows the relationship between two variables,x and y.This relationship is described by the equation

Consider the data in Table 1A.4.1.Suppose z increases from 4 to 5.What will happen to the graph of the relationship between x and y?

The study of how wages are set for New Brunswick teachers is classified as

"There can be too much of a good thing." This statement suggests that

Monika will choose to eat a seventh pizza slice if

The equation of a line is y = 4 + 2x.What is the slope of this line?

Which one of the following news headlines definitely concerns the social interest?

Given the data in Table 1A.4.2,holding income constant,the graph relating the price of strawberries,measured on the y-axis and the purchases of strawberries,measured on the x-axis

Use the figure below to answer the following question. Figure 1A.2.3 -In Figure 1A.2.3,the variables x and y

According to the U.S.Bureau of Labor Statistics,between 2014 and 2024

Use the table below to answer the following questions. Table 1A.3.2 -In Table 1A.3.2,suppose that w is measured along the x-axis.The slope of the line relating w and u is

Complete the following sentence.Capital is

The relationship between two variables that are positively related is shown graphically by a line that

The Economic Problem

Demand and Supply

Elasticity

Efficiency and Equity

Government Actions in Markets

Global Markets in Action

Utility and Demand

Possibilities, preferences, and Choices

Output and Costs

Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Externalities

Public Goods and Common Resources

Markets for Factors of Production

Economic Inequality

Filters

Exam 1: What Is Economics

Use the figure below to answer the following questions. Figure 1A.2.4 -Refer to Figure 1A.2.4.Which one of the graphs shows a negative relationship between x and y?

Use the figure below to answer the following questions. Figure 1A.4.3 -In Figure 1A.4.3,x is

Given the data in Table 1A.4.2,suppose family income decreases from $400 to $300 per week.Then the graph relating the price of strawberries,measured on the y-axis and the number of boxes of strawberries purchased,measured on the x-axis will

Use the figure below to answer the following questions. Figure 1A.1.2 -Refer to Figure 1A.1.2.If x decreases from 5 to 4,y

Use the figure below to answer the following question. Figure 1A.3.2 -Refer to Figure 1A.3.2.The slope across the arc between A and B is

Sally has to decide whether to study for her economics test or her accounting test.If she chooses to study for accounting,her opportunity cost of studying accounting is

Use the figure below to answer the following questions. Figure 1A.2.1 -Refer to Figure 1A.2.1.Which graph or graphs indicates a negative relationship between x and y?

Use the figure below to answer the following question. Figure 1A.5.4 -Refer to Figure 1A.5.4.The graph shows the relationship between two variables,x and y.This relationship is described by the equation

Consider the data in Table 1A.4.1.Suppose z increases from 4 to 5.What will happen to the graph of the relationship between x and y?

The study of how wages are set for New Brunswick teachers is classified as

"There can be too much of a good thing." This statement suggests that

Monika will choose to eat a seventh pizza slice if

The equation of a line is y = 4 + 2x.What is the slope of this line?

Which one of the following news headlines definitely concerns the social interest?

Given the data in Table 1A.4.2,holding income constant,the graph relating the price of strawberries,measured on the y-axis and the purchases of strawberries,measured on the x-axis

Use the figure below to answer the following question. Figure 1A.2.3 -In Figure 1A.2.3,the variables x and y

According to the U.S.Bureau of Labor Statistics,between 2014 and 2024

Use the table below to answer the following questions. Table 1A.3.2 -In Table 1A.3.2,suppose that w is measured along the x-axis.The slope of the line relating w and u is

Complete the following sentence.Capital is

The relationship between two variables that are positively related is shown graphically by a line that

The Economic Problem

Demand and Supply

Elasticity

Efficiency and Equity

Government Actions in Markets

Global Markets in Action

Utility and Demand

Possibilities, preferences, and Choices

Output and Costs

Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Externalities

Public Goods and Common Resources

Markets for Factors of Production

Economic Inequality

Filters