Exam 1: What Is Economics?

Before starring as Tony Stark in Iron Man,Robert Downey Jr.had played in 45 movies that had average first-weekend box office revenues of a bit less than $5 million.Iron Man grossed $102 million in its first weekend.The success of Iron Man ________ the opportunity cost of hiring Robert Downey Jr. Movie producers now have ________ incentive to hire Robert Downey Jr.

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

Use the figure below to answer the following question. Figure 1A.3.11 -Refer to Figure 1A.3.11.The graph shows a ________ relationship.The absolute value of the slope of the relationship ________ as the value of x increases.

Use the figure below to answer the following questions. Figure 1A.5.3 -The equation of a line is y = 4 + 2x.Which one of the graphs in Figure 1A.5.3 represents this line?

Use the table below to answer the following question. Table 1A.3.1 -Refer to Table 1A.3.1.Assuming y is plotted on the vertical axis,the slope of the line is

Use the table below to answer the following questions. Table 1A.4.1 -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?

Which of the following is a normative statement?

Use the figure below to answer the following questions. Figure 1A.3.4 -In Figure 1A.3.4,the slope across arc BC is

Use the figure below to answer the following questions. Figure 1A.2.4 -Which curve or curves in Figure 1A.2.4 shows a positive relationship between unemployment and inflation?

A positive statement is

Two variables are negatively related if

Use the figure below to answer the following questions. Figure 1A.2.3 -Refer to Figure 1A.2.3.Which of the graphs shows a positive relationship between x and y?

The branch of economics that studies the national economy and the global economy is

Use the table below to answer the following question. Table 1A.4.3 -Refer to Table 1A.4.3.The table shows some data on the quantity of ice cream consumed at different prices and in different weather conditions.To draw a graph of the relationship between the quantity of the ice cream consumed and the price of ice cream,we must ________.

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

Which of the following creates an incentive to increase the amount of an activity?

When a farmer decides to harvest tomatoes using machines instead of migrant workers,the farmer is answering the ________ question.

Use the table below to answer the following question. Table 1A.2.1 -The data in Table 1A.2.1 shows that