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Chapter 2 Thinking Like an Economist




Question;6. In the past, environmentalists thought of;economics as a method of maximizing profits.;Presently;a.;there is;now realization that economics offers a framework for natural resource;allocation.;b.;economists;are helping to formulate the intellectual framework behind approaches to;protecting endangered species, reducing pollution, and preventing climate;change.;c.;economics;informs environmental studies but economists still do not work for;environmental advocacy groups.;d.;More;than one of the above is correct.;Graphing: A Brief Review;1. Which of the following is not correct?;a.;When;developing economic theories, graphs offer a way to visually express ideas;that might be less clear if described with equations or words.;b.;Graphs;are one way of expressing the relationships among variables.;c.;When;studying the relationship between two economic variables, graphs allow;economists to draw indisputable conclusions about causes and effects.;d.;When;analyzing economic data, graphs provide a powerful way of finding and;interpreting patterns.;2. Which of the following is not an;example of a graph of a single variable?;a.;a pie;chart;b.;a bar;graph;c.;a;time-series graph;d.;a;scatterplot;3. Graphs such as bar graphs and pie charts are;limited in that they;a.;can only;show variables that are positively related.;b.;can only;show variables that have a negative correlation.;c.;provide;information on only one variable.;d.;provide;information on no more than two variables.;4. Philip wants to create a graph containing the;prices of apples and the corresponding quantities of apples demanded by;customers. He should use a(n);a.;pie;chart.;b.;bar;graph.;c.;time-series;graph;d.;coordinate;system.;5. The use of the coordinate system allows;a.;for the;display of the flows of dollars, goods and services, and factors of;production in an economic system.;b.;for the;display of how labor and other resources are organized in the production;process.;c.;for the;display of two variables on a single graph.;d.;for the;creation of pie charts and bar graphs.;6. In order to display information on two;variables, an economist must use;a.;a bar;graph.;b.;a pie;chart.;c.;the;coordinate system.;d.;a;time-series graph.;7. Which of the following allows you to provide;information about the relationship between two variables?;a.;coordinate;system.;b.;pie;chart;c.;bar;graph;d.;time-series;graph;8. An ordered pair is;a.;the;process of checking calculations twice before placing them on a graph.;b.;two;numbers that can be represented by a single point on a graph.;c.;two;numbers that are represented by two points on a graph.;d.;two;points on a graph that are of equal distance from the origin.;9. The x-coordinate is the;a.;first;number of an ordered pair and represents the point's horizontal location.;b.;second;number of an ordered pair and represents the point's horizontal location.;c.;first;number of an ordered pair and represents the point's vertical location.;d.;second;number of an ordered pair and represents the point's vertical location.


Paper#55198 | Written in 18-Jul-2015

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