Question 1

Exhibit 1A-2 Straight line
  
-As shown in Exhibit 1A-2,the slope of straight line CD:

Accepted Answer

A)  decreases with increases in X. 
B)  increases with increases in X. 
C)  increases with decreases in X. 
D)  remains constant with changes in X. 
A)  decreases with increases in X. 
B)  increases with increases in X. 
C)  increases with decreases in X. 
D)  remains constant with changes in X.

Question 2

Exhibit 1A-8 Straight line relationship
  
-What is the slope of the line shown in Exhibit 1A-8?

Accepted Answer

A)  -1. 
B)  -1/2. 
C)  -1/4. 
D)  0. 
A)  -1. 
B)  -1/2. 
C)  -1/4. 
D)  0.

Question 3

A graph is one method of expressing a model.

Accepted Answer

A) True 
 B)False

Question 4

Exhibit 1A-7 Straight line relationship
  
-What is the slope of the line shown in Exhibit 1A-7?

Accepted Answer

A)  1/20. 
B)  1/10. 
C)  1/5. 
D)  1/2. 
A)  1/20. 
B)  1/10. 
C)  1/5. 
D)  1/2.

Question 5

Two variables that are inversely related tend to move in opposite directions.

Accepted Answer

A) True 
 B)False

Question 6

A horizontal line represents an independent relationship.

Accepted Answer

A) True 
 B)False

Question 7

Exhibit 1A-5 Straight line
  
-Straight line CD in Exhibit 1A-5 shows that:

Accepted Answer

A)  increasing values for X increases the value of Y. 
B)  decreasing values for X decreases the value of Y. 
C)  there is an inverse relationship between X and Y. 
D)  all of the above. 
A)  increasing values for X increases the value of Y. 
B)  decreasing values for X decreases the value of Y. 
C)  there is an inverse relationship between X and Y. 
D)  all of the above.

Question 8

A shift in a curve represents a change in:

Accepted Answer

A)  the variable on the horizontal axis. 
B)  the variable on the vertical axis. 
C)  a third variable that is not on either axis. 
D)  any variable that is relevant to the relationship being graphed. 
A)  the variable on the horizontal axis. 
B)  the variable on the vertical axis. 
C)  a third variable that is not on either axis. 
D)  any variable that is relevant to the relationship being graphed.

Question 9

Exhibit 1A-5 Straight line
  
-In Exhibit 1A-5,the slope of straight line CD is:

Accepted Answer

A)  positive. 
B)  zero. 
C)  negative. 
D)  variable. 
A)  positive. 
B)  zero. 
C)  negative. 
D)  variable.

Question 10

A direct relationship exists when:

Accepted Answer

A)  there is no association between two variables. 
B)  one variable increases and there is no change in the other variable. 
C)  one variable increases and the other variable increases. 
D)  one variable increases and the other variable decreases. 
A)  there is no association between two variables. 
B)  one variable increases and there is no change in the other variable. 
C)  one variable increases and the other variable increases. 
D)  one variable increases and the other variable decreases.

Question 11

Exhibit 1A-6 Straight line
  
-In Exhibit 1A-6,the slope of straight line A-D is:

Accepted Answer

A)  greater than 1. 
B)  equal to 1. 
C)  less than 1. 
D)  zero. 
A)  greater than 1. 
B)  equal to 1. 
C)  less than 1. 
D)  zero.

Question 12

Exhibit 1A-3 Straight line
  
-In Exhibit 1A-3,as X increases along the horizontal axis,corresponding to points A-B on the line,the Y values decrease.The relationship between the X and Y variables is:

Accepted Answer

A)  direct. 
B)  inverse. 
C)  independent. 
D)  variable. 
A)  direct. 
B)  inverse. 
C)  independent. 
D)  variable.

Question 13

Which of the following pairs is the most likely to exhibit an inverse relationship?

Accepted Answer

A)  The amount of time you study and your grade point average. 
B)  People's annual income and their expenditure on personal computers. 
C)  Baseball players' salaries and their batting averages. 
D)  The price of a concert and the number of tickets people purchase. 
A)  The amount of time you study and your grade point average. 
B)  People's annual income and their expenditure on personal computers. 
C)  Baseball players' salaries and their batting averages. 
D)  The price of a concert and the number of tickets people purchase.

Question 14

Distinguish a direct and an inverse or negative relationship.Provide an example of each type of relationship.

Accepted Answer

A direct relationship between two variab

Question 15

What is used to illustrate an independent relationship between two variables?

Accepted Answer

A)  An upward-sloping curve. 
B)  A downward-sloping curve. 
C)  A hill-shaped curve. 
D)  A horizontal or vertical line. 
A)  An upward-sloping curve. 
B)  A downward-sloping curve. 
C)  A hill-shaped curve. 
D)  A horizontal or vertical line.

Question 16

A graph can be used to illustrate the relationship between the price of compact discs and the quantity of compact discs demanded.If there is evidence that buyers' income also influences the demand for compact discs,then a movement along the curve can be caused by a change in the price of compact discs.

Accepted Answer

A) True 
 B)False

Question 17

Exhibit 1A-4 Straight line
  
-Straight line A-D in Exhibit 1A-4 shows that:

Accepted Answer

A)  increasing value for X will increase the value of Y. 
B)  increasing value for X will decrease the value of Y. 
C)  increasing values for X do not affect the value of Y. 
D)  all of the above. 
A)  increasing value for X will increase the value of Y. 
B)  increasing value for X will decrease the value of Y. 
C)  increasing values for X do not affect the value of Y. 
D)  all of the above.

Question 18

Exhibit 1A-2 Straight line
  
-In Exhibit 1A-2,the slope of straight line CD is:

Accepted Answer

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

Question 19

Exhibit 1A-8 Straight line relationship
  
-According to the Exhibit 1A-8,the relationship between the price and quantity purchased of pizza is:

Accepted Answer

A)  direct. 
B)  inverse. 
C)  complex. 
D)  independent. 
A)  direct. 
B)  inverse. 
C)  complex. 
D)  independent.

Question 20

Exhibit 1A-3 Straight line
  
-In Exhibit 1A-3,the slope for straight line AB is:

Accepted Answer

A)  3. 
B)  1. 
C)  -1. 
D)  -5. 
A)  3. 
B)  1. 
C)  -1. 
D)  -5.

Exam 1: A: Appendix: Applying Graphs to Economics

Exhibit 1A-2 Straight line -As shown in Exhibit 1A-2,the slope of straight line CD:

Exhibit 1A-8 Straight line relationship -What is the slope of the line shown in Exhibit 1A-8?

A graph is one method of expressing a model.

Exhibit 1A-7 Straight line relationship -What is the slope of the line shown in Exhibit 1A-7?

Two variables that are inversely related tend to move in opposite directions.

A horizontal line represents an independent relationship.

Exhibit 1A-5 Straight line -Straight line CD in Exhibit 1A-5 shows that:

A shift in a curve represents a change in:

Exhibit 1A-5 Straight line -In Exhibit 1A-5,the slope of straight line CD is:

A direct relationship exists when:

Exhibit 1A-6 Straight line -In Exhibit 1A-6,the slope of straight line A-D is:

Exhibit 1A-3 Straight line -In Exhibit 1A-3,as X increases along the horizontal axis,corresponding to points A-B on the line,the Y values decrease.The relationship between the X and Y variables is:

Which of the following pairs is the most likely to exhibit an inverse relationship?

Distinguish a direct and an inverse or negative relationship.Provide an example of each type of relationship.

What is used to illustrate an independent relationship between two variables?

Exhibit 1A-4 Straight line -Straight line A-D in Exhibit 1A-4 shows that:

Exhibit 1A-2 Straight line -In Exhibit 1A-2,the slope of straight line CD is:

Exhibit 1A-8 Straight line relationship -According to the Exhibit 1A-8,the relationship between the price and quantity purchased of pizza is:

Exhibit 1A-3 Straight line -In Exhibit 1A-3,the slope for straight line AB is:

Introducing the Economic Way of Thinking

Production Possibilities,Opportunity Cost,and Economic Growth

Part 1: Market Demand and Supply

Part 2: Market Demand and Supply

Markets in Action

Price Elasticity of Demand

Production Costs

Perfect Competition

Monopoly

Monopolistic Competition and Oligopoly

Labor Markets and Income Distribution

Gross Domestic Product

Business Cycles and Unemployment

Inflation

Aggregate Demand and Supply

A: Appendix: The Self-Correcting Aggregate Demand and Supply Model

Fiscal Policy

The Public Sector

Federal Deficits,Surpluses,and the National Debt

Money and the Federal Reserve System

Money Creation

Monetary Policy

A: Appendix: Policy Disputes Using the Self-Correcting Aggregate Demand and Supply Model

International Trade and Finance

Economies in Transition

Growth and the Less-Developed Countries

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