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A functional relationship exists between two variables if the value of one variable depends on the value of the other variable.

A) True
B) False

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The part of a graph that is most applicable to marginal analysis is the


A) origin
B) slope
C) horizontal axis
D) dependent variable
E) inverse relation

F) A) and C)
G) B) and D)

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A line on a graph will shift if


A) the independent variable changes
B) there are no changes in any variables considered in the model
C) there is a change in a variable that had previously been assumed to be constant
D) a change in the independent variable causes a change in the dependent variable
E) the independent variable and the dependent variable are unrelated

F) A) and E)
G) B) and C)

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A U-shaped curve has a positive slope everywhere.

A) True
B) False

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A line is tangent to a curve if it


A) crosses the curve at one point
B) touches the curve at one point,without crossing it
C) crosses the curve at a minimum of two points
D) never touches the curve
E) forms a right triangle with the curve

F) A) and B)
G) D) and E)

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Exhibit 1-13 Exhibit 1-13 -Refer to Exhibit 1-13.The reason that Line (a) would shift to the position of Line (b) is A) a change in quantity B) a change in price C) a change in an assumption about the relationship between the two variables observed D) a change from a positive relation to a negative relation E) a change from a negative relation to a positive relation -Refer to Exhibit 1-13.The reason that Line (a) would shift to the position of Line (b) is


A) a change in quantity
B) a change in price
C) a change in an assumption about the relationship between the two variables observed
D) a change from a positive relation to a negative relation
E) a change from a negative relation to a positive relation

F) All of the above
G) B) and E)

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The slope of a vertical straight line is infinity.

A) True
B) False

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Exhibit 1-4 Exhibit 1-4 -Along the curve in Exhibit 1-4, A) if P = $6,then Q = 8 B) if Q = 10,then P = $4 C) the slope is equal to -1 D) Q increases as P increases E) there is a positive relationship between Q and P -Along the curve in Exhibit 1-4,


A) if P = $6,then Q = 8
B) if Q = 10,then P = $4
C) the slope is equal to -1
D) Q increases as P increases
E) there is a positive relationship between Q and P

F) C) and D)
G) A) and E)

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If the dependent variable Y is directly related to the independent variable X,this means that changes in X cause changes in Y.

A) True
B) False

Correct Answer

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-Suppose y is measured on the vertical axis,x is on the horizontal axis,and the various combinations of x and y are shown by a nonvertical straight line.Which of the following must be true? A) There is a negative relation between x and y. B) There is a positive relation between x and y. C) There is a causal relation between x and y. D) If the value of x is known,the value of y can be determined. E) The value of y is independent of the value of x. -Suppose y is measured on the vertical axis,x is on the horizontal axis,and the various combinations of x and y are shown by a nonvertical straight line.Which of the following must be true?


A) There is a negative relation between x and y.
B) There is a positive relation between x and y.
C) There is a causal relation between x and y.
D) If the value of x is known,the value of y can be determined.
E) The value of y is independent of the value of x.

F) D) and E)
G) B) and D)

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The numerical value of the slope of a line depends in part on the units of measurement used.

A) True
B) False

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The slope of a horizontal straight line is infinity.

A) True
B) False

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Suppose a graph with Ron's weight on the vertical axis and his consumption of ice cream on the horizontal axis indicated that for each serving of ice cream he ate,Ron would gain 3 pounds,regardless of how much ice cream he had already eaten.This graph would show a


A) horizontal line at weight = 3
B) straight line with slope = 3
C) straight line with slope = 1/2
D) straight line with slope = -3
E) straight line with slope = -1/3

F) A) and D)
G) A) and C)

Correct Answer

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If slope = 2 for a line on a graph with x on the horizontal axis and y on the vertical axis,then if


A) x decreases by 4,y decreases by 8
B) x = -4,then y = -2
C) y decreases by 4,x decreases by 8
D) x = -4,y = -8
E) x increases by 4,y decreases by 8

F) A) and C)
G) All of the above

Correct Answer

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On a graph,the origin represents


A) the dependent variable
B) the variable that is the primary source of causation
C) a caption or explanatory description of the symbols,colors,and measurements used on the graph
D) the point at which the values of both variables are zero
E) ancestry

F) D) and E)
G) B) and E)

Correct Answer

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The slope of a line


A) can only be calculated for straight lines
B) varies at different points along a straight line
C) indicates whether or not there is a causal relationship between variables
D) is independent of the units of measurement used
E) indicates how much the vertical variable changes for a given change in the horizontal variable

F) B) and E)
G) B) and C)

Correct Answer

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Exhibit 1-2 Exhibit 1-2 -In Exhibit 1-2,at x = 10,the A) value of y is larger on curve A than on curve B B) value of y is smaller on curve A than on curve B C) value of y is the same on curve A as on curve B D) slope of line A is negative E) slope of line B is positive -In Exhibit 1-2,at x = 10,the


A) value of y is larger on curve A than on curve B
B) value of y is smaller on curve A than on curve B
C) value of y is the same on curve A as on curve B
D) slope of line A is negative
E) slope of line B is positive

F) None of the above
G) D) and E)

Correct Answer

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A tangent line is a straight line


A) that intersects a curved line twice
B) with a slope equal to infinity
C) that touches a curved line at only one point
D) that intersects a curved line at several points
E) that runs along the vertical axis

F) A) and B)
G) B) and D)

Correct Answer

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Most economics graphs reflect the relationship between how many economic variables?


A) three
B) two
C) four
D) thirty
E) twenty

F) C) and E)
G) A) and B)

Correct Answer

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