ECON 200 - Principles of Economics:

INTRODUCTION

1. Which of the above has a slope approximately equal to 1?

a. A

b. B

c. C

d. A and B

e. None

2. Which of the above has a slope approximately equal to 0?

a. A

b. B

c. C

d. A and B

e. None

3. Which of the above has a slope approximately equal to -1?

a. A

b. B

c. C

d. D

e. None

 

4. In which graph above would the Quantity rise if the Price falls?

a. A

b. B

c. C

d. D

e. None

5. In which graph above would the Quantity rise if the Price rises?

a. A

b. B

c. C

d. A and B

e. None

 

 6. Which of the lines above has a slope between 0 and -1?

a. A

b. B

c. C

d. A and B

e. None

7. Which of the lines above has a slope between 1 and - infinity ?

a. A

b. B

c. C

d. A and B

e. None

 

8. In which of the graphs immediately above would a large increase in Price cause a small decrease in Quantity?

a. A

b. B

c. C

d. D

e. None

9. In which of the graphs immediately above would a small increase in Price cause a large decrease in Quantity?

a. A

b. B

c. C

d. D

e. None

10. In which of the graphs immediately above would a small increase in Price cause a large increase in Quantity?

a. A

b. B

c. C

d. D

e. None

 

  

11. Which of the graphs immediately above is/are concave?

a. A

b. B

c. A and B

d. A and C

e. B and D

12. Which of the graphs immediately above is/are convex?

a. A

b. B

c. A and C

d. B and C

e. B and D

13. Which of the graphs immediately above has a positive slope at every point?

a. A

b. B

c. C

d. D

e. None

14. Which of the graphs immediately above has a slope which starts off being a large positive number, changes to a smaller positive number, then becomes equal to 0, then becomes increasingly negative?

a. A

b. B

A and B

d. C

e. D

15. Which of the graphs immediately above is negative-sloped at every point and gets more negative at an increasing rate, from left to right?

a. A

b. B

c. C

d. D

e. None

 

  

16. In which of the graphs immediately above would a small increase in Price cause a large decrease in Quantity?

a. A

b. B

c. C

d. D

e. None

 

17. In which of the graphs immediately above would a large increase in Price cause a small decrease in Quantity?

a. A

b. B

c. C

d. A and D

e. B and C

18. In which of the graphs immediately above would a large increase in Price cause a small increase in Quantity?

a. A

b. B

c. C

d. A and D

e. B and C

19. In which of the graphs immediately above would a large decrease in Price cause a small increase in Quantity?

a. A

b. B

c. C

d. A and D

e. B and C

20. In which of the graphs immediately above does a positive slope get larger at an increasing rate, from left to right?

a. A

b. B

c. C

d. D

e. None

 

21. In which of the graphs immediately above would a small increase in Price cause a large decrease in Quantity?

a. A

b. B

c. A and B

d. C and D

e. None

22. In which of the graphs immediately above would a small increase in Price cause a large increase in Quantity?

a. A

b. B

c. A and B

d. C and D

e. None

23. In which of the graphs immediately above would a large increase in Price cause a large decrease in Quantity?

a. A

b. B

c. C

d. D

e. None

24. In which of the graphs immediately above does the slope get larger from left to right, but stays positive?

a. A

b. B

c. C

d. D

e. None

25. In which of the graphs immediately above does the slope get more negative at an decreasing rate?

a. A

b. B

c. C

d. D

e. None