Exam (elaborations)
Test Bank For Economics for Today 7th Edition by Irvin B. Tucker
- Course
- Institution
Economics for Today 7th Edition by Irvin B. Tucker - Test Bank
[Show more]
Seller
Follow
ExamsExpert
Reviews received
Content preview
,Appendix to Chapter 1—Applying Graphs to EconomicsMULTIPLE CHOICE
1. A direct relationship exists when:
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.
ANS: C PTS: 1 DIF: Easy REF: Full: 21 | Mic: 21
TOP: Direct relationship TYP: RE
2. An upward-sloping line or curve is used to illustrate:
a. a direct relationship.
b. an inverse relationship.
c. two unrelated variables.
d. the ceteris paribus assumption.
ANS: A PTS: 1 DIF: Medium REF: Full: 21 | Mic: 21
TOP: Direct relationship TYP: SA
3. Suppose two variables are directly related. If one variable rises, then the other variable:
a. also rises.
b. falls.
c. remains unchanged.
d. reacts unpredictably.
ANS: A PTS: 1 DIF: Easy REF: Full: 21 | Mic: 21
TOP: Direct relationship TYP: RE
4. Which of the following pairs is the most likely to exhibit a direct relationship?
a. The price of gasoline and the amount of gasoline that people purchase.
b. Cholesterol levels and the likelihood of developing heart disease.
c. Outdoor temperature and heating oil sales.
d. Annual income and weekly pawn shop visits.
ANS: B PTS: 1 DIF: Medium REF: Full: 21 | Mic: 21
TOP: Direct relationship TYP: SA
5. A direct relationship is expressed graphically as a:
a. positively sloped line or curve.
b. negatively sloped line or curve.
c. horizontal line.
d. vertical line.
ANS: A PTS: 1 DIF: Easy REF: Full: 21 | Mic: 21
TOP: Direct relationship TYP: RE
6. An inverse relationship exists when:
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.
, ANS: D PTS: 1 DIF: Easy REF: Full: 24 | Mic: 24
TOP: Inverse relationship TYP: RE
7. Which of the following pairs is the most likely to exhibit an inverse relationship?
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.
ANS: D PTS: 1 DIF: Medium REF: Full: 24 | Mic: 24
TOP: Inverse relationship TYP: SA
8. When an inverse relationship is graphed, the resulting line or curve is:
a. horizontal.
b. vertical.
c. upward-sloping.
d. downward-sloping.
ANS: D PTS: 1 DIF: Easy REF: Full: 24 | Mic: 24
TOP: Inverse relationship TYP: RE
9. Measured between two points on a curve, the ratio of the change in the variable on the vertical axis to
the change in the variable on the horizontal axis is the:
a. axis.
b. slope.
c. dependent curve.
d. independent curve.
ANS: B PTS: 1 DIF: Easy REF: Full: 24 | Mic: 24
TOP: Slope of a line TYP: RE
10. Which of the following statements is correct?
a. Slope is the ratio of the vertical change (the rise or fall) to the horizontal change (the run).
b. A direct relationship is one in which two variables change in the same direction.
c. An inverse relationship is one in which two variables change in opposite directions.
d. An independent relationship is one in which two variables are unrelated.
e. All of these.
ANS: E PTS: 1 DIF: Difficult REF: Full: 24 | Mic: 24
TOP: Slope of a line TYP: CA
11. Which of the following is used to illustrate an independent relationship between two variables?
a. An upward-sloping curve
b. A downward-sloping curve
c. A hill-shaped curve
d. A horizontal or vertical line
ANS: D PTS: 1 DIF: Medium REF: Full: 25 | Mic: 25
TOP: Independent relationship TYP: SA
12. A line that has a different slope at each point is a:
a. curve.
b. straight line.
c. vertical line.
d. horizontal line.
, ANS: A PTS: 1 DIF: Easy REF: Full: 26 | Mic: 26
TOP: Slope of a curve TYP: RE
Exhibit 1A-1 Straight line
13. In Exhibit 1A-1, as X increases along the horizontal axis, corresponding to points A-B on the line, the
Y values increase. The relationship between the X and Y variables is:
a. direct.
b. inverse.
c. independent.
d. variable.
ANS: A PTS: 1 DIF: Medium REF: Full: 21 | Mic: 21
TOP: Direct relationship TYP: SA
14. Straight line AB in Exhibit 1A-1 shows that:
a. increasing values for X will decrease the values of Y.
b. decreasing values for X will increase the values of Y.
c. there is a direct relationship between X and Y.
d. all of these.
ANS: C PTS: 1 DIF: Easy REF: Full: 21 | Mic: 21
TOP: Direct relationship TYP: RE
15. In Exhibit 1A-1, the slope of straight line AB is:
a. positive.
b. zero.
c. negative.
d. variable.
ANS: A PTS: 1 DIF: Easy REF: Full: 24 | Mic: 24
TOP: Slope of a line TYP: SA
16. In Exhibit 1A-1, the slope of straight line AB is:
a. 1.
b. 5.
c. 1/2.
d. 1.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ExamsExpert. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $30.74. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83637 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now