Question 1

If the slope of a linear function changes with no change in the Y-intercept

Accepted Answer

A) the graph shifts either up or down in a parallel way. 
B) the graph remains unchanged. 
C) the graph rotates about its X-intercept. 
D) the graph rotates about its Y-intercept. 
A) the graph shifts either up or down in a parallel way. 
B) the graph remains unchanged. 
C) the graph rotates about its X-intercept. 
D) the graph rotates about its Y-intercept.

Question 2

If the production possibilities frontier can be expressed as $4 X ^ { 2 } + Y ^ { 2 } = 16$ then the point $\mathrm { X } = 1$ ; $Y = 4$ is.

Accepted Answer

A) outside the production possibilities frontier 
B) on the production possibilities frontier 
C) inside the production possibilities frontier 
D) in the wrong quadrant to be on the graph 
A) outside the production possibilities frontier 
B) on the production possibilities frontier 
C) inside the production possibilities frontier 
D) in the wrong quadrant to be on the graph

Question 3

Suppose a production possibilities frontier can be expressed as what is the opportunity cost of going from 2 units of X to 3 units of X (in terms of units of Y)? $9 X ^ { 2 } + Y ^ { 2 } = 81$ .

Accepted Answer

A)  $\sqrt { 72 }$ 
B)  $\sqrt { 45 }$ 
C) 1 
D) 0 
A)  $\sqrt { 72 }$ 
B)  $\sqrt { 45 }$ 
C) 1 
D) 0

Question 4

Suppose $T = .02 I ^ { \alpha }$
 .If taxes are progressive which of the following is true?

Accepted Answer

A) $\alpha$>1 B) $0<\alpha<1$ C) $\alpha= 1$ D) $\alpha = 0$ A) $\alpha$>1 B) $0<\alpha<1$ C) $\alpha= 1$ D) $\alpha = 0$

Question 5

Suppose you can write generic supply and demand curves such that $\mathrm { Q } _ { \mathrm { S } } = \mathrm { A } + \mathrm { BP }$ and $Q _ { D } = D + C P$ .If firms produce more when price rises,B must be.

Accepted Answer

A) positive 
B) negative 
C) 0 
A) positive 
B) negative 
C) 0

Question 6

If the prevailing price of shirts is $10 and at this price demanders demand 100 shirts while suppliers are willing to supply 110 shirts,there is a(n)

Accepted Answer

A) shortage at the $10 price. 
B) surplus at the $10 price. 
C) equilibrium in this market. 
D) shortage if price were to rise above $10. 
A) shortage at the $10 price. 
B) surplus at the $10 price. 
C) equilibrium in this market. 
D) shortage if price were to rise above $10.

Question 7

If $Y = X ^ { 2 } + Z ^ { 2 }$ ,the contour lines.

Accepted Answer

A) are concentric circles. 
B) are parabolas. 
C) are hyperbolas. 
D) intersect whenever either X or Z is zero. 
A) are concentric circles. 
B) are parabolas. 
C) are hyperbolas. 
D) intersect whenever either X or Z is zero.

Question 8

Suppose $T = .02 I ^ { \alpha }$ .If taxes are proportional which of the following is true?

Accepted Answer

A) $\alpha>1$ B) $0 <\alpha < 1$ C) $\alpha = 1$ D) $\alpha = 0$ A) $\alpha>1$ B) $0 <\alpha < 1$ C) $\alpha = 1$ D) $\alpha = 0$

Question 9

For the function $Y=X \cdot Z$
 ,the equation $X \cdot Z = 10$ represents

Accepted Answer

A) the X-intercept. 
B) the Y-intercept. 
C) a contour line. 
D) a tangent line. 
A) the X-intercept. 
B) the Y-intercept. 
C) a contour line. 
D) a tangent line.

Question 10

The X-intercept of $Y = 4 X + 12$ is

Accepted Answer

A) -3. 
B) 3. 
C) -1/3 
D) 12. 
A) -3. 
B) 3. 
C) -1/3 
D) 12.

Question 11

An increase in the technology used in the production of only one of the two goods in a society will

Accepted Answer

A) eliminate scarcity 
B) move the production possibilities frontier out in all directions 
C) move the production possibilities frontier in all directions 
D) leave one intercept of the production possibilities frontier fixed and swing out from the other 
A) eliminate scarcity 
B) move the production possibilities frontier out in all directions 
C) move the production possibilities frontier in all directions 
D) leave one intercept of the production possibilities frontier fixed and swing out from the other

Question 12

Suppose $Q _ { D } = - 5 P + 44$ and $Q _ { s } = P - 4$ .The equilibrium quantity is

Accepted Answer

A) 2 
B) 3 
C) 4 
D) 5 
A) 2 
B) 3 
C) 4 
D) 5

Question 13

Suppose a production possibilities frontier can be expressed as $9 X ^ { 2 } + Y ^ { 2 } = 81$ what is the opportunity cost of going from 1 unit of X to 2 units of X (in terms of units of Y)?

Accepted Answer

A)  45 
B)  $\sqrt { 45 }$ 
C)  $\sqrt { 72 } - \sqrt { 45 }$ 
D)  1 
A)  45 
B)  $\sqrt { 45 }$ 
C)  $\sqrt { 72 } - \sqrt { 45 }$ 
D)  1

Question 14

Suppose you can write generic supply and demand curves such that and .If price must reach a certain level before firms supply anything $\mathrm { Q } _ { \mathrm { S } } = \mathrm { A } + \mathrm { BP }$ , $Q _ { D } = D + C P$ ,A must be.

Accepted Answer

A) positive 
B) negative 
C) 0 
A) positive 
B) negative 
C) 0

Question 15

The slope of a nonlinear function at some particular point

Accepted Answer

A) is the slope of the straight line that is tangent to the function at that point. 
B) is the slope of the straight line connecting the origin and the point. 
C) cannot be determined. 
D) is constant for the entire function. 
A) is the slope of the straight line that is tangent to the function at that point. 
B) is the slope of the straight line connecting the origin and the point. 
C) cannot be determined. 
D) is constant for the entire function.

Question 16

Normative economic analysis

Accepted Answer

A) involves the study of what comprises a normal firm. 
B) involves how resources are actually used in an economy. 
C) involves judgments on how resources should be used in an economy. 
D) is usually thought to be a waste of time. 
A) involves the study of what comprises a normal firm. 
B) involves how resources are actually used in an economy. 
C) involves judgments on how resources should be used in an economy. 
D) is usually thought to be a waste of time.

Question 17

A major problem that may occur with models that predict the values of economic variables in the future is that

Accepted Answer

A) researchers are pessimistic about the future. 
B) the model may fail to acknowledge that economic actors will change their behavior in response to changing situations. 
C) the model may make predictions that conflict with widely held opinions. 
D) no one cares about these predictions. 
A) researchers are pessimistic about the future. 
B) the model may fail to acknowledge that economic actors will change their behavior in response to changing situations. 
C) the model may make predictions that conflict with widely held opinions. 
D) no one cares about these predictions.

Question 18

The solution to the simultaneous equations $5 X - Y = 10$ and $10 x + Y = 35$ is

Accepted Answer

A)  $X = 15$ , $Y = 0$ . 
B)  $X = 3$ , $Y = 5$ . 
C)  $X = 5$ , $Y = 3$ . 
D) None of the above. 
A)  $X = 15$ , $Y = 0$ . 
B)  $X = 3$ , $Y = 5$ . 
C)  $X = 5$ , $Y = 3$ . 
D) None of the above.

Question 19

Suppose you can write generic supply and demand curves such that $\mathrm { Q } _ { \mathrm { S } } = \mathrm { A } + \mathrm { BP }$ and $Q _ { D } = D + C P$ .Equilibrium quantity is then given by.

Accepted Answer

A)  $A C - B D$ 
B)  $\frac { A C - B D } { C - B }$ 
C)  $C - B$ 
D)  $B$ 
A)  $A C - B D$ 
B)  $\frac { A C - B D } { C - B }$ 
C)  $C - B$ 
D)  $B$

If the slope of a linear function changes with no change in the Y-intercept

If the production possibilities frontier can be expressed as $4 X ^ { 2 } + Y ^ { 2 } = 16$ then the point $\mathrm { X } = 1$ ; $Y = 4$ is.

Suppose a production possibilities frontier can be expressed as what is the opportunity cost of going from 2 units of X to 3 units of X (in terms of units of Y)? $9 X ^ { 2 } + Y ^ { 2 } = 81$ .

Suppose $T = .02 I ^ { \alpha }$ .If taxes are progressive which of the following is true?

Suppose you can write generic supply and demand curves such that $\mathrm { Q } _ { \mathrm { S } } = \mathrm { A } + \mathrm { BP }$ and $Q _ { D } = D + C P$ .If firms produce more when price rises,B must be.

If the prevailing price of shirts is $10 and at this price demanders demand 100 shirts while suppliers are willing to supply 110 shirts,there is a(n)

If $Y = X ^ { 2 } + Z ^ { 2 }$ ,the contour lines.

Suppose $T = .02 I ^ { \alpha }$ .If taxes are proportional which of the following is true?

For the function $Y=X \cdot Z$ ,the equation $X \cdot Z = 10$ represents

The X-intercept of $Y = 4 X + 12$ is

An increase in the technology used in the production of only one of the two goods in a society will

Suppose $Q _ { D } = - 5 P + 44$ and $Q _ { s } = P - 4$ .The equilibrium quantity is

Suppose a production possibilities frontier can be expressed as $9 X ^ { 2 } + Y ^ { 2 } = 81$ what is the opportunity cost of going from 1 unit of X to 2 units of X (in terms of units of Y)?

Suppose you can write generic supply and demand curves such that and .If price must reach a certain level before firms supply anything $\mathrm { Q } _ { \mathrm { S } } = \mathrm { A } + \mathrm { BP }$ , $Q _ { D } = D + C P$ ,A must be.

The slope of a nonlinear function at some particular point

Normative economic analysis

A major problem that may occur with models that predict the values of economic variables in the future is that

The solution to the simultaneous equations $5 X - Y = 10$ and $10 x + Y = 35$ is

Suppose you can write generic supply and demand curves such that $\mathrm { Q } _ { \mathrm { S } } = \mathrm { A } + \mathrm { BP }$ and $Q _ { D } = D + C P$ .Equilibrium quantity is then given by.

Utility and Choice

Demand Curves

Uncertainty

Game Theory

Production

Costs

Profit Maximization and Supply

Perfect Competition in a Single Market

General Equilibrium and Welfare

Monopoly

Imperfect Competition

Pricing in Input Markets

Capital and Time

Asymmetric Information

Externalities and Public Goods

Behavioral Economics

Filters

Exam 1: Economic Models

If the slope of a linear function changes with no change in the Y-intercept

If the production possibilities frontier can be expressed as 4X2+Y2=164 X ^ { 2 } + Y ^ { 2 } = 164X2+Y2=16 then the point X=1\mathrm { X } = 1X=1 ; Y=4Y = 4Y=4 is.

Suppose a production possibilities frontier can be expressed as what is the opportunity cost of going from 2 units of X to 3 units of X (in terms of units of Y)? 9X2+Y2=819 X ^ { 2 } + Y ^ { 2 } = 819X2+Y2=81 .

Suppose T=.02IαT = .02 I ^ { \alpha }T=.02Iα .If taxes are progressive which of the following is true?

Suppose you can write generic supply and demand curves such that QS=A+BP\mathrm { Q } _ { \mathrm { S } } = \mathrm { A } + \mathrm { BP }QS​=A+BP and QD=D+CPQ _ { D } = D + C PQD​=D+CP .If firms produce more when price rises,B must be.

If the prevailing price of shirts is $10 and at this price demanders demand 100 shirts while suppliers are willing to supply 110 shirts,there is a(n)

If Y=X2+Z2Y = X ^ { 2 } + Z ^ { 2 }Y=X2+Z2 ,the contour lines.

Suppose T=.02IαT = .02 I ^ { \alpha }T=.02Iα .If taxes are proportional which of the following is true?

For the function Y=X⋅ZY=X \cdot ZY=X⋅Z ,the equation X⋅Z=10X \cdot Z = 10X⋅Z=10 represents

The X-intercept of Y=4X+12Y = 4 X + 12Y=4X+12 is

An increase in the technology used in the production of only one of the two goods in a society will

Suppose QD=−5P+44Q _ { D } = - 5 P + 44QD​=−5P+44 and Qs=P−4Q _ { s } = P - 4Qs​=P−4 .The equilibrium quantity is

Suppose a production possibilities frontier can be expressed as 9X2+Y2=819 X ^ { 2 } + Y ^ { 2 } = 819X2+Y2=81 what is the opportunity cost of going from 1 unit of X to 2 units of X (in terms of units of Y)?

Suppose you can write generic supply and demand curves such that and .If price must reach a certain level before firms supply anything QS=A+BP\mathrm { Q } _ { \mathrm { S } } = \mathrm { A } + \mathrm { BP }QS​=A+BP , QD=D+CPQ _ { D } = D + C PQD​=D+CP ,A must be.

The slope of a nonlinear function at some particular point

Normative economic analysis

A major problem that may occur with models that predict the values of economic variables in the future is that

The solution to the simultaneous equations 5X−Y=105 X - Y = 105X−Y=10 and 10x+Y=3510 x + Y = 3510x+Y=35 is

Suppose you can write generic supply and demand curves such that QS=A+BP\mathrm { Q } _ { \mathrm { S } } = \mathrm { A } + \mathrm { BP }QS​=A+BP and QD=D+CPQ _ { D } = D + C PQD​=D+CP .Equilibrium quantity is then given by.

Utility and Choice

Demand Curves

Uncertainty

Game Theory

Production

Costs

Profit Maximization and Supply

Perfect Competition in a Single Market

General Equilibrium and Welfare

Monopoly

Imperfect Competition

Pricing in Input Markets

Capital and Time

Asymmetric Information

Externalities and Public Goods

Behavioral Economics

Filters

If the production possibilities frontier can be expressed as $4 X ^ { 2 } + Y ^ { 2 } = 16$ then the point $\mathrm { X } = 1$ ; $Y = 4$ is.

Suppose a production possibilities frontier can be expressed as what is the opportunity cost of going from 2 units of X to 3 units of X (in terms of units of Y)? $9 X ^ { 2 } + Y ^ { 2 } = 81$ .

Suppose $T = .02 I ^ { \alpha }$ .If taxes are progressive which of the following is true?

Suppose you can write generic supply and demand curves such that $\mathrm { Q } _ { \mathrm { S } } = \mathrm { A } + \mathrm { BP }$ and $Q _ { D } = D + C P$ .If firms produce more when price rises,B must be.

If $Y = X ^ { 2 } + Z ^ { 2 }$ ,the contour lines.

Suppose $T = .02 I ^ { \alpha }$ .If taxes are proportional which of the following is true?

For the function $Y=X \cdot Z$ ,the equation $X \cdot Z = 10$ represents

The X-intercept of $Y = 4 X + 12$ is

Suppose $Q _ { D } = - 5 P + 44$ and $Q _ { s } = P - 4$ .The equilibrium quantity is

Suppose a production possibilities frontier can be expressed as $9 X ^ { 2 } + Y ^ { 2 } = 81$ what is the opportunity cost of going from 1 unit of X to 2 units of X (in terms of units of Y)?

Suppose you can write generic supply and demand curves such that and .If price must reach a certain level before firms supply anything $\mathrm { Q } _ { \mathrm { S } } = \mathrm { A } + \mathrm { BP }$ , $Q _ { D } = D + C P$ ,A must be.

The solution to the simultaneous equations $5 X - Y = 10$ and $10 x + Y = 35$ is

Suppose you can write generic supply and demand curves such that $\mathrm { Q } _ { \mathrm { S } } = \mathrm { A } + \mathrm { BP }$ and $Q _ { D } = D + C P$ .Equilibrium quantity is then given by.