Exhibit 1A-1 Straight line
In Exhibit 1A-1, as X increases along the horizontal axis, from point A to point B on the line, the Y valuesÂ
A. increase so the relationship between X and Y is direct.
B. decrease so the relationship between X and Y is inverse.
C. remain unchanged so the relationship between X and Y is independent.
D. change so the relationship between X and Y is variable.
Answer: A
You might also like to view...
Refer to Figure 12.3. Suppose the economy is initially at full employment with real GDP equal to potential GDP, and the Fed does not target interest rates, allowing the real interest rate to change like it did during the Great Depression. This would be reflected as a movement from ________ in the IS-MP model and ________ the Phillips curve.
A) point Y to point X; a movement up B) point X to point Y; a movement down C) point Z to point Y; a movement up D) point Y to point Z; a movement down
If a 20 percent decrease in the price of chicken results in a 10 percent increase in the quantity demanded, the price elasticity of demand has a value of
a. 0.5 b. 2 c. 1 d. 0.1 e. none of these