Define what is meant by an inverse relationship between two variables and describe the line graph depicting such a relationship
Please provide the best answer for the statement.
An inverse relationship describes a situation where the two variables change in opposite directions. When the first variable increases, the second variable decreases and vice versa. An example would be product price and quantity demanded of the product. Other things being equal, the higher the product price, the less will be purchased. The line graph of an inverse relationship has a negative slope; that is, it is down sloping from left to right.
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The fraction of people who would like to be employed, but can't find work is called the:
A. average labor productivity rate. B. Participation rate C. inflation rate. D. unemployment rate.
A bank has $250 in checking deposits, $1,000 in savings deposits, $1,200 in time deposits, $1,000 in loans to businesses, $400 in outstanding credit card balances, $800 in government securities, $25 in currency in its vault, and $25 in deposits at
the Fed. Of these, ________ are part of M2. A) $2,600 B) $2,450 C) $3,450 D) $2,850 E) $2,200
The Rand Corporation estimates that external costs imposed by alcohol consumption (e.g., deaths caused by drunk drivers) to be 48 cents per ounce consumed. If taxes on alcohol are 23 cents per ounce consumed, then
A. marginal social benefit is greater than marginal social cost. B. the alcohol taxes are increasing economic inefficiency and dead-weight loss. C. alcohol consumption is greater than socially optimal. D. marginal external costs plus marginal private costs are less than price.
Burger King has a direct demand for the cheese which it uses in its burgers
a. True b. False Indicate whether the statement is true or false