Graphically express a direct and an inverse or negative relationship. What could cause a shift in a line or curve expressing a relationship between two variables?
A direct relationship will slope upward; it will have a positive slope. An inverse relationship will slope downward; it will have a negative slope. A change in some relevant variable other than those listed on the vertical or horizontal axis must change in order to shift a line or curve expressing a relationship between two variables.
You might also like to view...
The downward slope of a demand curve
A) represents the law of demand. B) shows that as the price of a good rises, consumers increase the quantity they demand. C) indicates how the quantity demanded changes when incomes rise and the good is a normal good. D) indicates how demand changes when incomes rise and the good is a normal good. E) indicates how demand changes when the price changes and the good is a normal good.
If orange juice and apple juice are substitutes, an increase in the price of orange juice will shift the demand curve for apple juice to the right
a. True b. False Indicate whether the statement is true or false
In year 1 the price level is constant and the nominal rate of interest is 6 percent. But in year 2 the inflation rate is 3 percent. If the real rate of interest is to remain at the same level in year 2 as it was in year 1, then in year 2 the nominal
interest rate must: A. rise by 9 percentage points. B. rise by 3 percentage points. C. fall by 3 percentage points. D. rise by 6 percentage points.
What is the equation for Real GDP in terms of labor? Explain the factors that go into each component.
What will be an ideal response?