Exam 1: What Economics Is About

The coordinates of point A are 300 units of X and 40 units of Y.The coordinates of point B are 280 units of X and 30 units of Y.With X on the horizontal axis and Y on the vertical axis,the slope of the line between points A and B is

At the optimal or efficient level of an activity,the activity's marginal benefit must

Variables A and B are inversely related.If we plot A on the horizontal axis and B on the vertical axis,the line that connects combinations of A and B in a two-variable diagram is

Which of the following is an example of a positive economic statement?

Something that provides disutility is called a

"If you hadn't gone to dinner with your friends,you would have stayed home and surfed the Internet." It follows that

Which of the following statements uses the term ceteris paribus correctly?

If scarcity didn't exist,neither would

A characteristic of a 45-degree line is that

Opportunity cost is the __________ alternative forfeited when a choice is made.

The higher the opportunity cost of attending college,

If someone gives you a free ticket to the movies,then there is no opportunity cost involved with going to the movies.

If people want more cars than there are cars available,then it is necessarily true that

Which of the following is a positive macroeconomics statement?

Something that provides utility is called a

Which of the following issues is most unlikely to be addressed by an economist practicing positive economics?

In every economy people vie for the economy's rationing device,a process called

To an economist,utility means:

Scarcity occurs in both wealthy societies and poor societies.

In the text,economics is defined as the science of