Econ 101 - ch.2 quiz answers.docx

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University of British Columbia
Family Studies
FMST 210
Maria Weatherby

1. Refer to figure 2-3 on x2 on curve b : the slope of the curve is 0 2. data collected of several variables but for the same time period are called : cross sectional data 3. the statement that a countries rate of GDP growth is influenced by individuals saving behavior is an example of : theory 4. when it is said that variable a depends on variable b then a is : a function of b 5. positively related variable change such that as the value of one variable : decrease the value of other variable decreases 6. suppose we have data for 1000 students for a period of 1 year, the data show that those students spend : there is a positive correlation between hours of study time and GPA 7. a statement that a 2% increase in money supply leads to a 2% increase in a price level is : prediction 8. which of the following statement is not correct : economic predictions cannot be tested because human decisions involve free will 9. suppose that there is a linear relationship between ticket price to a university basketball game and the ticket price is $8 then $3000 tickets are sold , what is the slope of the function if q is plotted on the horizontal : -0.005 10. when an increase in 1 variable is associated with a decrease in second variable, the two variables are ; negatively related 11. when using the statistics in economics the possibility of error ; cannot be eliminated 12. the statement that introducing a policy of legislative rent controls will lead to a housing shortage is an example of : prediction 13. the statement that a countries rate of economic growth is influenced by the firms investment behavior is an example of : theory 14. refer to
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