Skill: Level 3: Using models
Section: Chapter 1 Appendix - Checkpoint 1
Status: Old
AACSB: Analytic skills
16) A graph shows the wage rate of factory workers. The slope of the line is positive for periods when the wage rate is
A) falling.
B) rising.
C) high and not changing.
D) low and falling.
E) high and falling.
Answer: B
Topic: Time-series graph
Skill: Level 3: Using models
Section: Chapter 1 Appendix - Checkpoint 1
Status: Old
AACSB: Analytic skills
17) A trend is
A) a measure of closeness on a scatter diagram.
B) a general tendency for a variable to rise or fall.
C) the maximum value of a variable.
D) the minimum value of a variable.
E) the difference between the maximum value of a variable and the minimum value of the variable.
Answer: B
Topic: Trend
Skill: Level 1: Definition
Section: Chapter 1 Appendix - Checkpoint 1
Status: Old
AACSB: Analytic skills
18) A time series graph reveals whether there is a ________, which represents ________.
A) trend in a variable; a general tendency for the variable to rise or fall
B) relationship between two variables; a cross-section relationship
C) trends in two variables; unrelated variables
D) relationship between two variables; a trend in a variable
E) cross-section relationship; a general tendency for the variables to rise or fall
Answer: A
Topic: Trend
Skill: Level 1: Definition
Section: Chapter 1 Appendix - Checkpoint 1
Status: Old
AACSB: Analytic skills
19) Trend refers to
A) the scale used on the x- and y-axes.
B) increases but not decreases of a variable.
C) decreases but not increases of a variable.
D) a general tendency for a variable to rise or fall.
E) the difference between the maximum value of the variable and the minimum value of the variable.
Answer: D
Topic: Trend
Skill: Level 1: Definition
Section: Chapter 1 Appendix - Checkpoint 1
Status: Old
AACSB: Analytic skills
20) In the above figure, the diagram shows
A) a downward trend in x.
B) an upward trend in x.
C) a scatter diagram.
D) a two-variable scatter diagram.
E) a cross-section graph between x and time.
Answer: A
Topic: Trend
Skill: Level 1: Definition
Section: Chapter 1 Appendix - Checkpoint 1
Status: Old
AACSB: Analytic skills
21) A cross-section graph
A) is divided into different sections.
B) shows the values of an economic variable for different groups in a population at a point in time.
C) measures time on the x-axis and the variable in which we are interested on the y-axis.
D) Both answers A and C are correct.
E) Both answers A and B are correct.
Answer: B
Topic: Cross-section graph
Skill: Level 1: Definition
Section: Chapter 1 Appendix - Checkpoint 1
Status: Old
AACSB: Analytic skills
22) A graph that shows the value of an economic variable for different groups in a population at a given time is called a
A) scatter diagram.
B) time-series graph.
C) pie chart.
D) cross-section graph.
E) fixed-time diagram.
Answer: D
Topic: Cross-section graph
Skill: Level 1: Definition
Section: Chapter 1 Appendix - Checkpoint 1
Status: Old
AACSB: Analytic skills
23) A graph shows the average wage of various demographic groups in 2012. The kind of graph used to show these data would be a
A) scatter diagram.
B) time-series graph.
C) cross-section graph.
D) Venn diagram.
E) fixed-year figure.
Answer: C
Topic: Cross-section graph
Skill: Level 3: Using models
Section: Chapter 1 Appendix - Checkpoint 1
Status: Old
AACSB: Analytic skills
24) A graph showing the values of an economic variable for different groups in a population at a point in time is called a
A) cross-section graph.
B) time-series graph.
C) scatter diagram.
D) Venn diagram.
E) None of the above answers is correct.
Answer: A
Topic: Cross-section graph
Skill: Level 1: Definition
Section: Chapter 1 Appendix - Checkpoint 1
Status: Old
AACSB: Analytic skills
25) ________ shows the values of a variable for different groups in the population at a certain point in time.