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Practice Quiz
Applying Graphs to Economics
ANS:
d. As the value of X increases, the value of Y increases, and vice versa; this is called a
direct relationship.
ANS:
d. The slope of a line is measured by the rise over the run, or a change in vertical divided
by a change in the horizontal. For example, as Y increases from 5 units to 15, X increases
from 0 to 20. The slope is 10 divided by 20.
ANS:
a. When both X and Y move in the same direction, it is said that they are directly related
to one another.
ANS:
d. When the value of X decreases, the value of Y increases and vice versa; this shows a
direct relationship between X and Y.
ANS:
d. The slope of a straight line stays the same between the two points on the line.
ANS
c. A shift occurs when something changes other than the price.
ANS:
c. When price changes the movement is always along a stationary curve. When
something changes other than price, the whole curve shifts.
ANS:
d. As the value of X increases, the value of Y remains unchanged.
10. When an inverse relationship is graphed, the resulting line or curve is:
a. horizontal.
b. vertical.
c. upward sloping.
d. downward sloping.
ANS:
d. As the value of X increases, the value of Y decreases.
11. 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 payers’ salaries and their batting average
d. The price of a concert and the number of tickets people purchase
ANS:
d. As the ticket price falls, people can afford to purchase more tickets.
12. 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. Higher cholesterol levels develop plaque in blood vessels and contributes to heart
disease.