ch 1 appendix problems

ch 1 appendix problems - Question 1 0 out of 1 points...

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Question 1 0 out of 1 points Following are three tables for making graphs. On the graphs, plot the economic relationships contained in each table. Be sure to label each axis of the graph and indicate the unit measurement and scale used on each axis. a. Use the table to graph national income on the horizontal axis and consumption expenditures on the vertical axis below; connect the seven points and label the curve "Consumption." The relationship between income and consumption is (a direct, an inverse) [a] one and the consumption curve is (an up-, a down-) [b] sloping curve. b. Use the next table to graph investment expenditures on the horizontal axis and the rate of interest on the vertical axis; connect the seven points and label the curve "Investment."
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The relationship between the rate of interest and investment expenditures is (a direct, an inverse) [c] one and the investment curve is (an up-, a down-) [d] sloping curve. c. Use the next table to graph average salary on the horizontal axis and wine consumption on the vertical axis; connect the seven points.
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(1) The average salary of a college professor and wine consumption (are, are not) [e] correlated. The higher average salary (is, is not) [f] the cause of the greater consumption of wine. (2) The relationship between the two variables may be purely (coincidental, planned) [g] ; or, both the higher salaries and the greater consumption of wine may be the result of the higher (taxes, incomes) [h] in the U.S. economy.
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This note was uploaded on 09/10/2009 for the course ECO 2251 taught by Professor Kirkland during the Spring '09 term at Troy.

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ch 1 appendix problems - Question 1 0 out of 1 points...

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