ch1 appendex multiple choice

ch1 appendex multiple choice - If an increase in one...

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If an increase in one variable is associated with a decrease in another variable, then we can conclude that the variables are: Correct Answer: inversely related. The ratio of the vertical change to the horizontal change between two points of a straight line is the: Correct Answer: slope. There are two sets of x, y points on a straight line in a two-variable graph, with y on the vertical axis and x on the horizontal axis. If one set of points was (0, 5) and the other set (5, 20), the linear equation for the line would be: Correct Answer: y = 5 + 3x
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Feedback: The slope would be calculated as (20 - 5)/ (5 - 0) = 15/5 = 3. The vertical intercept would be the value of y when x is zero, which is 5 here as indicated by the point (0,5). In a two-variable graph of data on the price and quantity of a product, economists place: Correct Answer: price on the vertical axis even though it is the independent variable and quantity on the horizontal axis even though it is the dependent variable. In a two-dimensional graph of the relationship between two economic variables, an assumption
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is usually made that: Correct Answer: other variables are held constant. Feedback: This is the ceteris paribus assumptio n. If they were allowed to change, you couldn't determine the relationshi p. If the slope of a straight line is zero, then the straight line is: Correct Answer: horizontal.
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Feedback: Correct! Lines parallel to the horizontal axis have a slope of zero, indicating no change in the variable on the vertical axis regardless of the value of the one on the horizontal axis. This question is based on the following four data sets. In each set, the independent variable is in the left column and the dependent variable is in the right column. There is an inverse relationship between the independent and dependent variable in data sets: Correct Answer: 2 and 4
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Feedback: In data set 1, A & B move in the same direction, indicating a positive or direct relationshi p. In data set 2, when C goes up, D goes down in value, so the relationshi p is negative or inverse. Data set 3
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ch1 appendex multiple choice - If an increase in one...

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