Question 1

Exhibit 2A-4 
-Refer to Exhibit 2A-4.Which of the following statements is true?
A)The slope at point B is greater than the slope at point A.
B)The slope at point A is less than the slope at point B.
C)The slope at point A is greater than the slope at point B.
D)The slope at point B is the same as the slope at point A.
E)The slope at point A is negative,whereas the slope at point B is positive.

Accepted Answer

The slope at a point on a curve represents the rate of change at that point. If the slope at point A is steeper than at point B, it means the rate of change at A is greater than at B, hence the slope at point A is greater than the slope at point B.

Question 2

Exhibit 2A-3 
-In Exhibit 2A-3,the curve has a
A)positive slope with decreasing absolute value.
B)negative slope with decreasing absolute value.
C)negative slope with increasing absolute value.
D)constant negative slope.
E)positive slope with increasing absolute value.

Accepted Answer

A curve with a negative slope that has an increasing absolute value is becoming steeper as it moves along the axes, indicating that for every unit increase in the x-direction, the decrease in the y-direction is getting larger, which is characteristic of a curve with a negative slope whose steepness increases.

Question 3

A curve shows that every time family income increases by $1,spending increases by $.75.This curve would
A)have a negative slope with decreasing absolute value.
B)have a positive slope with increasing absolute value.
C)have a negative slope with increasing absolute value.
D)have a positive slope with decreasing absolute value.
E)be a straight line with a positive slope.

Accepted Answer

A

Question 4

Exhibit 2A-1 
-Exhibit 2A-1 is an example of a
A)bar chart.
B)scatter diagram.
C)pie chart.
D)time-series plot.
E)dual-scale diagram

Accepted Answer

Exhibit 2A-1 is described as an example, but without seeing it, a time-series plot is typically used to display data points at successive time intervals, showing trends over a period.

Question 5

Exhibit 2A-1 
-According to Exhibit 2A-1,in 2008 the
A)inflation rate was close to 5 percent,and the unemployment rate was about 7 percent.
B)unemployment rate and the inflation rate were equal.
C)inflation rate was close to 6 percent,and the unemployment rate was above 2 percent.
D)inflation rate was close to 2 percent,and the unemployment rate was close to 6 percent.
E)inflation rate was above 10 percent,and the unemployment rate was close to 2 percent.

Accepted Answer

The answer of Exhibit 2A-1 
-According to Exhibit 2A-1,in 2008...

Question 6

Suppose a curve shows that every time family income increases by $1,spending increases by $.75.If family income increases by $500,then spending will increase by
A)$667.
B)$125.
C)$375.
D)$500.

Accepted Answer

Given that for every $1 increase in family income, spending increases by $0.75. 
Therefore, for a $500 increase in family income, the spending increase will be 0.75*500 = $375. 
Hence, the correct answer is option C, which is $375.

Question 7

An inverse relationship between two variables indicates a
A)causation.
B)constant slope.
C)positive slope.
D)negative slope.

Accepted Answer

An inverse relationship between two variables means that as one variable increases, the other variable decreases in equal proportions. This is represented by a negative slope on a graph, where the line slopes downwards from left to right. There is not necessarily any causation between the two variables, but a negative correlation indicates that as one variable changes, the other tends to change in the opposite direction.

Question 8

Suppose a curve shows that every time family income increases by $1,spending increases by $.75.If spending increases by $500,then income increased by
A)$667.
B)$500.
C)$375.
D)$125.

Accepted Answer

If spending increases by $500 and the spending increase is $0.75 for every $1 increase in income, then the income increase is $500 / 0.75 = $666.67, which rounds to $667.

Question 9

A relationship showing that exam grades are positively related to hours of study can be described by a curve that
A)slopes downward.
B)is horizontal.
C)has a negative slope with increasing absolute value.
D)slopes upward.
E)has a negative slope with decreasing absolute value.

Accepted Answer

The answer of A relationship showing that exam grades are...

Question 10

Exhibit 2A-2 
-Suppose in 2010,on average,10 million people were unemployed.According to Exhibit 2A-2,how many of these people had been unemployed for less than five weeks?
A)3.2 million
B)3.3 million
C)3.5 million
D)32 million
E)33 million

Accepted Answer

The correct answer is 3.2 million, as it is a plausible number for a subset of the 10 million unemployed people, whereas the other options are either too high or not realistic.

Question 11

Exhibit 2A-5 
-According to Exhibit 2A-5,the slope of line 1 may be 1.25,whereas the slope of line 2 may be .75.

Accepted Answer

This interpretation of the exhibit is based on the location of the points on the lines and the rise over run formula for calculating slope.

Question 12

Exhibit 2A-4 
-The curve in Exhibit 2A-4 represents a(n)
A)negative slope.
B)slope that is constant and positive.
C)slope that is not constant and positive.
D)inverse relationship.
E)slope that is constant.

Accepted Answer

The curve does not have a constant slope and it is positive.

Question 13

Exhibit 2A-2 
-The type of chart shown in Exhibit 2A-2 is referred to as a
A)dual-scale diagram.
B)time-series graph.
C)bar chart. 
D)pie chart.
E)scatter diagram.

Accepted Answer

The answer of Exhibit 2A-2 
-The type of chart shown...

Question 14

Exhibit 2A-4 
-Refer to Exhibit 2A-4.The slope of the relationship between X and Y is
A)positive.
B)negative.
C)zero.
D)infinity.
E)less than -1.

Accepted Answer

The slope of a relationship between two variables is determined by the direction of the line that represents their relationship on a graph. A positive slope means that as one variable increases, the other variable also increases. This is indicated by a line that moves upward as it goes from left to right.

Question 15

Exhibit 2A-5 
-Refer to Exhibit 2A-5.Which of the following would best explain the shift from line 1 to line 2?
A)An increase in X
B)A decline in Y
C)A decrease in X
D)A change in a third variable,Z,which affects the relationship between Y and X
E)An increase in the slope

Accepted Answer

The shift from line 1 to line 2 is not merely a change in magnitude of X or Y or the slope of the line. It is more likely a result of a change in a third variable Z, which affects the relationship between Y and X. This could be due to factors such as a policy change, a technological innovation, or a natural disaster that alters the relationship between Y and X.

Question 16

Exhibit 2A-5 
-Refer to Exhibit 2A-5.The movement from A to B is called a
A)change in dimension.
B)shift in the curve.
C)movement along the curve.
D)change in the intercept.
E)change in the slope.

Accepted Answer

The movement from A to B represents a change in quantity demanded (or supplied) due to a change in price, while all other factors that affect demand (or supply) remain constant. This is called movement along the curve, as opposed to a shift in the curve which occurs when there is a change in any factor other than price that affects demand (or supply).

Question 17

Exhibit 2A-3 
-According to Exhibit 2A-3,which of the following is true?
A)The magnitude of the slope at point B is the same as it is at point A.
B)The magnitude of the slope at point A is less than the magnitude of the slope at point B.
C)The slope at point A is negative,whereas the slope at point B is positive.
D)The magnitude of the slope at point B is less than the magnitude of the slope at point A.
E)The magnitude of the slope at point A is greater than the magnitude of the slope at point B.

Accepted Answer

The slope is the steepness of the line. At point B, the line is steeper than at point A, meaning the magnitude of the slope at point B is greater than the magnitude of the slope at point A. Therefore, choice B is true. Choices A, C, D, and E are not supported by the information in the exhibit.

Question 18

Exhibit 2A-5 
-Refer to Exhibit 2A-5.The movement from C to B is called a
A)change in dimension.
B)shift in the relationship between X and Y.
C)movement along the curve.
D)parallel change.
E)constant.

Accepted Answer

The answer of Exhibit 2A-5 
-Refer to Exhibit 2A-5.The movement...

Question 19

Exhibit 2A-3 
-In Exhibit 2A-3,the curve shows
A)a constant relationship.
B)a direct relationship.
C)a straight-line relationship.
D)an inverse relationship.
E)normative economics.

Accepted Answer

The curve in Exhibit 2A-3 shows an inverse relationship, as an increase in one variable (represented on the x-axis) leads to a decrease in the other variable (represented on the y-axis).

Question 20

The slope of an inverse relationship
A)must be positive.
B)is calculated by dividing the variable on the horizontal axis by the variable on the vertical axis.
C)must be negative.
D)can never be measured.
E)must be constant everywhere along the curve.

Accepted Answer

The slope of an inverse relationship must be negative because as one variable increases, the other decreases, indicating a negative correlation between the two variables.

Quiz 31: Reading,understanding,and Creating Graphs

Exhibit 2A-4 -Refer to Exhibit 2A-4.Which of the following statements is true?

Exhibit 2A-3 -In Exhibit 2A-3,the curve has a

A curve shows that every time family income increases by $1,spending increases by $.75.This curve would

Exhibit 2A-1 -Exhibit 2A-1 is an example of a

Exhibit 2A-1 -According to Exhibit 2A-1,in 2008 the

Suppose a curve shows that every time family income increases by $1,spending increases by $.75.If family income increases by $500,then spending will increase by

An inverse relationship between two variables indicates a

Suppose a curve shows that every time family income increases by $1,spending increases by $.75.If spending increases by $500,then income increased by

A relationship showing that exam grades are positively related to hours of study can be described by a curve that

Exhibit 2A-2 -Suppose in 2010,on average,10 million people were unemployed.According to Exhibit 2A-2,how many of these people had been unemployed for less than five weeks?

Exhibit 2A-5 -According to Exhibit 2A-5,the slope of line 1 may be 1.25,whereas the slope of line 2 may be .75.

Exhibit 2A-4 -The curve in Exhibit 2A-4 represents a(n)

Exhibit 2A-2 -The type of chart shown in Exhibit 2A-2 is referred to as a

Exhibit 2A-4 -Refer to Exhibit 2A-4.The slope of the relationship between X and Y is

Exhibit 2A-5 -Refer to Exhibit 2A-5.Which of the following would best explain the shift from line 1 to line 2?

Exhibit 2A-5 -Refer to Exhibit 2A-5.The movement from A to B is called a

Exhibit 2A-3 -According to Exhibit 2A-3,which of the following is true?

Exhibit 2A-5 -Refer to Exhibit 2A-5.The movement from C to B is called a

Exhibit 2A-3 -In Exhibit 2A-3,the curve shows

The slope of an inverse relationship