Exam 1: Getting Started

-The table above shows how the number of books Katie buys each year depends on her income a∙What kind of relationship exists between Katie's income and the number of books she purchases? b∙Plot the relationship between Katie's income and the number of books she purchases in the above figure.Measure income along the vertical axis and the number of books along the horizontal axis.Be sure to label the axes. c∙What is the slope of the relationship between $50,000 and $70,000 of income? d∙What is the slope of the relationship between $90,000 and $110,000 of income? e∙Comment on the similarity or dissimilarity of your answers to parts (c)and (d).

Which of the following is a positive statement?

A linear relationship

-The figure above shows the relationship between the time a student spends studying and the student's GPA that semester.The slope of the relationship at point A ________ the slope at point B.

Which of the following is a macroeconomic issue?

Explain whether the statement "The government should increase tariffs on Japanese cars to protect the American car industry from competition," is a normative or positive statement.

Microeconomics includes the study of

-What is the slope of the line in the figure above?

Will, Bill, and Phil decide to study an extra hour for an exam.Instead of studying, they could have gone out to eat, played football, or watched TV.Which of the following statements is correct?

The important characteristic of normative statements is that they

-The graph shows

Choices that are best for the individuals that make them are choices in pursuit of

Moving rightward along a straight line, the slope of the line

As a person increases his or her caloric intake, the person's weight increases, ceteris paribus.The relationship between the person's caloric intake and the person's weight is an example of

A normative statement I∙can be tested as to whether it is true or false. Ii∙is considered negative. Iii∙depends on a person's values.

To make a rational choice, a person

When economists use the term "correlation," they are referring to

Which of the following is a microeconomic topic?

In the diagram below, label the x-axis, the y-axis, and the origin.

The opportunity cost of a one-unit increase in an activity