Question 1

If you knew that the vertical intercept for a straight line was 150 and that the slope of the line was 4, then the dependent variable would be 250 when the value of the independent variable is
A)15.
B)20.
C)25.
D)30.

Accepted Answer

The answer of If you knew that the vertical intercept...

Question 2

In a curved graph that is dome-shaped, the tangent line at its maximum, or highest point, has an infinite slope.

Accepted Answer

At the maximum point of a dome-shaped curve, the slope of the tangent line is 0, not infinite, because the curve is flattest at its peak.

Question 3

Which of the following suggests a direct relationship between x and y?
A)a change in y = -2 coupled with a change in x = -4
B)a change in y = 2 coupled with a change in x = 0
C)a change in y =
D)a change in y = 6 coupled with a change in x =

Accepted Answer

A direct relationship implies that as one variable increases, the other also increases, or as one decreases, the other also decreases. In option A, both x and y decrease, indicating a direct relationship.

Question 4

In constructing the demand graph to show how the price of a good price affects how much of it the buyers will buy, the convention that economists follow is to measure price on the
A)horizontal axis because it is the independent variable.
B)vertical axis because it is the dependent variable.
C)vertical axis even though it is the independent variable.
D)horizontal axis even though it is the dependent variable.

Accepted Answer

Economists conventionally place price on the vertical axis even though it is the independent variable, while quantity demanded is placed on the horizontal axis.

Question 5

In a graph showing the relationship between variables X and Y, ceteris paribus means that
A)X is inversely related to Y.
B)X is positively related to Y.
C)X and Y are independent.
D)other variables not shown are held constant.

Accepted Answer

Ceteris paribus is a Latin phrase meaning "all other things being equal," indicating that other variables are held constant to isolate the relationship between X and Y.

Question 6

In a graph of the relationship between income and saving, economists generally consider
A)income to be the independent variable and place it on the vertical axis.
B)income to be the dependent variable and place it on the horizontal axis.
C)saving to be the dependent variable and place it on the vertical axis.
D)saving to be the independent variable and place it on the vertical axis.

Accepted Answer

In economics, income is typically considered the independent variable, and saving is the dependent variable. Therefore, saving is placed on the vertical axis as it depends on the level of income.

Question 7

The slope of a graph measures the rate of change in one variable as the other variable changes.

Accepted Answer

This is correct. The slope of a graph represents how much one variable changes as the other variable changes, and therefore measures the rate of change.

Question 8

Given: the intercept for a straight line is 12.If the value of the independent variable is 3, then the value of the dependent variable would be 18.The slope of this line is
A)1.
B)2.
C)3.
D)4.

Accepted Answer

Using the point-slope form of a line, we have:

y - 18 = m(x - 3)

Plugging in the intercept, we have:

12 - 18 = m(0 - 3)
-6 = -3m
m = 2

Therefore, the slope of the line is 2.

Question 9

In a graph with "crop yield" on the vertical axis and "rainfall" on the horizontal axis, the vertical intercept refers to the
A)steepness or flatness of the graph.
B)amount of rainfall when "crop yield" is zero.
C)amount of crop yield when "rainfall" is zero.
D)total crop yield during a given period of time.

Accepted Answer

The vertical intercept represents the value of the "crop yield" when "rainfall" is zero, as it is the point where the graph intersects the vertical axis.

Question 10

In the graph for the linear equation S = 15 - 5T, with T on the horizontal axis, the vertical intercept of the graph is -5.

Accepted Answer

The vertical intercept of the graph occurs when T = 0, which gives S = 15, not -5.

Question 11

In a linear equation relating income and consumption, you know that the intercept is $1,000 and the slope of the line is 4.If income is $20,000, then consumption is
A)$8,000.
B)$9,000.
C)$10,000.
D)$11,000.

Accepted Answer

The answer of In a linear equation relating income and...

Question 12

Which of the following indicates an inverse relationship between x and y?
A)y = -3 + 5x
B)y = 6.2x
C)y = 7 - 0.9x
D)y = -50

Accepted Answer

An inverse relationship between x and y is indicated by a negative coefficient of x in a linear equation, as seen in option C (y = 7 - 0.9x).

Question 13

The slope of a graph relating two variables is -5.This indicates that as one variable decreases, the other variable also decreases.

Accepted Answer

A slope of -5 indicates that as one variable increases, the other variable decreases. The negative sign indicates an inverse relationship between the two variables.

Question 14

In graphing a relationship between two variables, economists always follow the mathematical convention.Thus, if price is the independent variable then it is measured on the horizontal axis.

Accepted Answer

In economics, the convention is often to place the independent variable, such as price, on the vertical axis when graphing supply and demand curves, which is opposite to the standard mathematical convention.

Question 15

If you knew that the vertical intercept for a straight line was 15, that the slope was -.5, and that the independent variable had a value of 8, the value of the dependent variable would be
A)8.
B)9.
C)10.
D)11.

Accepted Answer

The answer of If you knew that the vertical intercept...

Question 16

An assumption is usually made in a two-axes (or two-dimensional) graph that, aside from the two variables under study, the influence of all other variables or factors is assumed to be constant.

Accepted Answer

This assumption is generally made in a two-axes graph to isolate the relationship between two variables and minimize the influence of other variables or factors.

Question 17

A relationship illustrated by an upward-sloping graph means that a(n)
A)increase in the value of one variable causes the value of the other to decrease.
B)decrease in the value of one variable causes the value of the other to decrease.
C)decrease in the value of one variable causes the value of the other to increase.
D)increase in the value of one variable causes no change in the other variable.

Accepted Answer

The answer of A relationship illustrated by an upward-sloping graph...

Question 18

If a linear relation is described by the equation C = 35 - 5D, then the vertical intercept of the graph (where C is on the vertical axis) is
A)35.
B)-5.
C)30.
D)not known.

Accepted Answer

The vertical intercept is the value of C when D is 0. So if we substitute D=0 in the equation, we get: C = 35 - 5(0) = 35. Therefore, the vertical intercept is 35.

Question 19

A linear relationship only refers to one whose graph is either vertical or horizontal.

Accepted Answer

A linear relationship refers to the relationship between two variables that can be represented by a straight line. This does not necessarily mean that the line is only vertical or horizontal; it can have any slope.

Quiz 1: Limits, Alternatives, and Choices

If you knew that the vertical intercept for a straight line was 150 and that the slope of the line was 4, then the dependent variable would be 250 when the value of the independent variable is

In a curved graph that is dome-shaped, the tangent line at its maximum, or highest point, has an infinite slope.

Which of the following suggests a direct relationship between x and y?

In constructing the demand graph to show how the price of a good price affects how much of it the buyers will buy, the convention that economists follow is to measure price on the

In a graph showing the relationship between variables X and Y, ceteris paribus means that

In a graph of the relationship between income and saving, economists generally consider

The slope of a graph measures the rate of change in one variable as the other variable changes.

Given: the intercept for a straight line is 12.If the value of the independent variable is 3, then the value of the dependent variable would be 18.The slope of this line is

In a graph with "crop yield" on the vertical axis and "rainfall" on the horizontal axis, the vertical intercept refers to the

In the graph for the linear equation S = 15 - 5T, with T on the horizontal axis, the vertical intercept of the graph is -5.

In a linear equation relating income and consumption, you know that the intercept is $1,000 and the slope of the line is 4.If income is $20,000, then consumption is

Which of the following indicates an inverse relationship between x and y?

The slope of a graph relating two variables is -5.This indicates that as one variable decreases, the other variable also decreases.

In graphing a relationship between two variables, economists always follow the mathematical convention.Thus, if price is the independent variable then it is measured on the horizontal axis.

If you knew that the vertical intercept for a straight line was 15, that the slope was -.5, and that the independent variable had a value of 8, the value of the dependent variable would be

An assumption is usually made in a two-axes (or two-dimensional) graph that, aside from the two variables under study, the influence of all other variables or factors is assumed to be constant.

A relationship illustrated by an upward-sloping graph means that a(n)

If a linear relation is described by the equation C = 35 - 5D, then the vertical intercept of the graph (where C is on the vertical axis) is

A linear relationship only refers to one whose graph is either vertical or horizontal.