apendix - Chapter 1 Appendix Graphs in Economics Graphing...

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Chapter 1 Appendix Graphs in Economics Graphing Data Making a Graph o Horizontal line is x -axis o Vertical line is y -axis o Intersection of the -axis and the -axis is the origin Main types of economic graphs o Time-series graph o Cross-section graph o Scatter diagram A time-series graph measures time (for example, months or years) on the -axis and the variable or variables in which we are interested on the -axis. A cross-section graph shows the values of an economic variable for different groups in a population at a point in time. A scatter diagram plots the value of one variable against the value of another variable. Graphs Used in Economic Models Variables that move in the same direction o A relationship between two variables that move in the same direction is called a positive relationship or a direct relationship . o A relationship shown by a straight line is called a linear relationship .
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This note was uploaded on 06/30/2009 for the course ECON 1020 taught by Professor Parkin during the Spring '09 term at UWO.

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apendix - Chapter 1 Appendix Graphs in Economics Graphing...

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