The ability of a model to predict outcomes (accurately) is an indicator that

If a data line on a graph has a slope of zero it means that there

Financial capital, like money, is simply a tool. Once financial capital is converted to economic capital (invested), it produces a resource that is

When decisions need to be made, economists assume a decision will be influenced by its

In order to calculate an economic equation to understand its economic implications, what must one remember to do?

Given X = 22+10-((5/25)*100), X is ________.

If Kendrick decides to watch t.v. instead of go to the gym, the ________ is a missed workout.

When tasks involved with producing a good or service are divided, workers and businesses

Scarcity is a condition that is everywhere and always, since it is based upon two assumptions that reflect permanent universal conditions. The assumptions are that more output will satisfy more wants and

If Sheila currently studies 3 hours per week and attends class 4 out of 4 possible hours per week and had a GPA of 2.0 last semester. Using the equation Grade = (0.50 x hours spent studying) + (0.25 x class attendance) + (0.25 x prior GPA) figure out, if Sheila wishes to get a 4.0, how many total hours per week does she need to study?

Sydney is an economist putting together an economic model to predict the outcome from particular causes and effects in the economy. What tool is best for testing out her model?

When creating a graph for your economics course, which axis is most commonly used to represent price (p)?

The distinguishing feature of economic capital (as opposed to financial capital, like money) is that it is

An equation where X=5 could be represented on a graph where Y is on the vertical axis and X is on the horizontal axis as

The town of Franklin has an economy composed entirely of two equally sized specialized tire manufacturers. Both company X and company Z produce race car tires and airplane tires. Company X is better at producing race car tires than Company Z which is better at producing airplane tires. In order to maximize output, Company X should

Land, or natural resources, include(s) the fertility of the land, minerals below it, and

In the case of an inverse relationship between two variables, all else remaining constant

In the case of an negative relationship between two variables, all else remaining constant

Imagine that a high school junior received a bonus check from his boss on the last day of his summer job. He decides to save all of that bonus check to pay for his senior trip coming up next year instead of purchasing a much needed new automobile. From an economist’s perspective, which of the following statements about this decision is likely to be true?

When picking up a rental car at an airport car rental agency, some travelers stand in line waiting to sign paperwork and pick up car keys at the rental desk while other travelers can go right to their rental car by using their rental car loyalty club card. In this example, the travelers who move quickly through to the parking lot pick up their car are probably