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ECONOMICS TEST BANK Economics, Sloman - Complete test bank - exam questions - quizzes (updated 2022)

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ECONOMICS TEST BANK Economics, Sloman - Complete test bank - exam questions - quizzes (updated 2022) Test bank with practice exam questions and their answers - Compatible with different editions (ne... wer and older) - Various difficulty levels from easy to extremely hard - The complete book is covered (All chapters) - Questions you can expect to see: Multiple choice questions, Problem solving, essays, Fill in the blanks, and True/False. - This test bank is a great tool to get ready for your next test Question text A direct relationship is one for which Select one: a. there is no slope to the curve showing the relationship between variables. b. there is no dependent variable. c. there is no independent variable. d. the dependent and independent variables change in the same direction. e. the dependent and independent variables change in opposite directions. Feedback The correct answer is: the dependent and independent variables change in the same direction. Question 2 The inverse relationship of two variables, X and Y, is shown in which graph of Figure A1-1? Select one: a. A b. C c. D d. B e. None of these Feedback The correct answer is: A Question 3 Correct Mark 1.00 out of 1.00 Flag question Question text An increase in income would enable more people to purchase computers. Thus, at every price more computers would be purchased. This effect could be shown in a graph by Select one: a. an outward shift in the demand curve for higher incomes. b. an outward shift in the demand curve for computers. c. an inward shift in the demand curve for computers. d. The effect cannot be shown in a graph. e. A shift in the demand curve is impossible. Feedback The correct answer is: an outward shift in the demand curve for computers. Question 4 Correct Mark 1.00 out of 1.00 Flag question Question text The text notes that people with a college degree earn more income than people without a college degree. In this situation, Select one: a. the college degree is the independent variable, and income is the dependent variable. b. the college degree is the dependent variable, and income is the independent variable. c. the independent variable is the people without a college degree, and the dependent variable the people with a college degree. d. the dependent variable is the people without a college degree, and the independent variable the people with a college degree e. there is no independent variable. Feedback The correct answer is: the college degree is the independent variable, and income is the dependent variable. Question 5 Correct Mark 1.00 out of 1.00 Flag question Question text Which of the following statements is true? Select one: a. The general equation of a straight line has the form Y = a + b + x. b. The general equation of a straight line has the form Y = axbxX. c. The general equation of a straight line has the form Y = a + bX, where Y is the dependent variable, X is the independent variable, a defines the intercept, and b is the slope. d. The general equation of a straight line has the form Y = a + bX, where Y is the dependent variable, X is the independent variable, a defines the intercept, and b is always negative. e. Graphs and equations can never be used to illustrate the same topics. Feedback The correct answer is: The general equation of a straight line has the form Y = a + bX, where Y is the dependent variable, X is the independent variable, a defines the intercept, and b is the slope. Question 6 Correct Mark 1.00 out of 1.00 Flag question Question text Figure A1-4 According to Figure A1-4, the slope of the line on the left is ____ and the slope of the line on the right is ____. Select one: a. 1; 1 b. 1; 1 c. 2; 1 d. 2; 1 e. -4; -1 Feedback The correct answer is: 1; 1 Question 7 Correct Mark 1.00 out of 1.00 Flag question Question text If there is a strong inverse relationship between two variables, it can safely be said that Select one: a. as the value of the independent variable increases, the value of the dependent variable also increases. b. as the value of the independent variable increases, the value of the dependent variable decreases. c. there is no relationship between the variables. d. the value of one variable can change and it will have no affect whatsoever on the value of the other variable. e. the time value of money is not dependent on interest rates. Feedback The correct answer is: as the value of the independent variable increases, the value of the dependent variable decreases. [Show More]

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