A scatter diagram with the price of peanut butter on the vertical axis and the price of jelly on the horizontal axis shows a negative relationship
If the price of jelly was placed on the vertical axis and the price of peanut butter was placed on the horizontal axis, the relationship would be a A) negative relationship, also called a direct relationship.
B) negative relationship, also called an inverse relationship.
C) positive relationship, also called a direct relationship.
D) positive relationship, also called an inverse relationship.
B
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A firm's employment of labor outside the country in which the firm is located
A) is outsourcing. B) shifts the supply of labor in the original country. C) is the marginal revenue product. D) shifts the supply of labor in the other country.
Use the following general linear demand relation:Qd = 680 - 9P + 0.006M - 4PR where M is income and PR is the price of a related good, R. If M = $15,000 and PR = $20 and the supply function is Qs = 30 + 3P, equilibrium price and quantity are, respectively,
A. P = $6 and Q = 38. B. P = $40 and Q = 250. C. P = $12 and Q = 200. D. P = $50 and Q = 170. E. P = $55 and Q = 195.
A free market can be defined as a market structure where all exchanges are voluntary, and prices are free to fluctuate. Does a perfectly competitive market qualify as a free market?
What will be an ideal response?
Which of the following is subtracted from gross national product to arrive at the net national product?
a. net income of foreigners b. depreciation c. indirect business taxes d. transfer payments