Podcast
Questions and Answers
What does a two-variable graph in economics use to represent the vertical and horizontal lines?
What does a two-variable graph in economics use to represent the vertical and horizontal lines?
- Curved lines
- Wavy lines
- Dotted lines
- Scale lines (correct)
In economics, what is a positive relationship between two variables called?
In economics, what is a positive relationship between two variables called?
- Inverse relationship
- Irrelevant relationship
- Complex relationship
- Direct relationship (correct)
Which type of relationship is indicated by variables that move in opposite directions on a graph in economics?
Which type of relationship is indicated by variables that move in opposite directions on a graph in economics?
- Complex relationship
- Irrelevant relationship
- Negative relationship (correct)
- Maximum relationship
What characterizes a linear relationship in economics when represented on a graph?
What characterizes a linear relationship in economics when represented on a graph?
Which type of relationship is shown when variables have a maximum or minimum in economics?
Which type of relationship is shown when variables have a maximum or minimum in economics?
What type of relationship is depicted by a line sloping downward in a graph?
What type of relationship is depicted by a line sloping downward in a graph?
In economic models, what do maximum and minimum relationships exhibit?
In economic models, what do maximum and minimum relationships exhibit?
When two variables are said to be unrelated in economics, what does this mean?
When two variables are said to be unrelated in economics, what does this mean?
Which type of graph would represent variables having a maximum and minimum relationship?
Which type of graph would represent variables having a maximum and minimum relationship?
What kind of relationship is illustrated by two variables moving in opposite directions in economics?
What kind of relationship is illustrated by two variables moving in opposite directions in economics?
In economics, what is the main focus of microeconomics?
In economics, what is the main focus of microeconomics?
Which economic question summarizes the determination of what, how, and for whom goods and services get produced?
Which economic question summarizes the determination of what, how, and for whom goods and services get produced?
What is an example of a macroeconomic study according to the text?
What is an example of a macroeconomic study according to the text?
What are goods and services in economics?
What are goods and services in economics?
Which economic question deals with the relationship between self-interest and social interest?
Which economic question deals with the relationship between self-interest and social interest?
What is the main concern addressed by economists regarding individual choices?
What is the main concern addressed by economists regarding individual choices?
In the context of the text, how do globalization and information-age monopolies relate to social interest?
In the context of the text, how do globalization and information-age monopolies relate to social interest?
How does increased production, mentioned in the text in relation to climate change, intersect with social interest?
How does increased production, mentioned in the text in relation to climate change, intersect with social interest?
What was the consequence of high-risk mortgages in the global economic crisis of 2008 as discussed in the text?
What was the consequence of high-risk mortgages in the global economic crisis of 2008 as discussed in the text?
In the context of economics, how do personal loans for buying homes relate to economic instability?
In the context of economics, how do personal loans for buying homes relate to economic instability?
