Economics: Principles, Problems, and Policies, 19th Edition

Published by McGraw-Hill Education
ISBN 10: 0073511447
ISBN 13: 978-0-07351-144-3

Chapter 1 - Appendix - Appendix Questions - Page 27: 1

Answer

- Graphs are a convenient and revealing way to represent economic relationships. - Two variables are negatively or inversely related when their values change in opposite directions. The line (curve) representing two inversely related variables slopes downward. - Two variables are positively or directly related when their values change in the same direction. The line (curve) representing two directly related variables slopes upward.

Work Step by Step

1) A graph is a visual representation of the relationship between two variables which includes economic relationships. 2) When two variables change in opposite directions they are inverse so have a downsloping line. 3) When two sets of data are positively or directly related they are directly related so have a upsloping line.
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