Imagine the GDP per capita of a country doubles every one hundred years. What would the shape of a linear-scale graph and a ratio-scale graph be?Select one or more:O a.Linear scale: an upward-slopingRatio scale: an upward-slopingcurve with increasing slope (called straight lineconvex shape)O b.Ratio scale: a straight horizontal lineLinear scale: an upward-slopingstraight lineRatio scale: an upward-slopingcurve with decreasing slope (calledO C.Linear scale: an upward-slopingstraight lineconcave shape)O d.Linear scale: an upward-slopingRatio scale: an upward-slopingconvex curveconvex curve

Gross Domestic Product (GDP) per capita => Country's GDP ÷ Total Populace. GDP per capita is…

Ratio scale: an upward-sloping Linear scale: an upward-sloping curve with increasing slope (called straight line convex shape) O a. O b. Ratio scale: a straight horizontal line Linear scale: an upward-sloping straight line Ratio scale: an upward-sloping curve with decreasing slope (called Oc. Linear scale: an upward-sloping straight line concave shape) Od rd-sloning Ratio scale: an upward-sloping

Ratio scale: an upward-sloping Linear scale: an upward-sloping curve with increasing slope (called straight line convex shape) O a. O b. Ratio scale: a straight horizontal line Linear scale: an upward-sloping straight line Ratio scale: an upward-sloping curve with decreasing slope (called Oc. Linear scale: an upward-sloping straight line concave shape) Od rd-sloning Ratio scale: an upward-sloping

Macroeconomics: Principles and Policy (MindTap Course List)

13th Edition

ISBN:9781305280601

Author:William J. Baumol, Alan S. Blinder

Publisher:William J. Baumol, Alan S. Blinder

Chapter1: What Is Economics

Section1.A: Using Graphs: A Review

Problem 1TY

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Imagine the GDP per capita of a country doubles every one hundred years. What would the shape of a linear-scale graph and a ratio-scale graph be? Select one or more: a. Linear scale: an upward-sloping curve with increasing slope (called convex shape) Ratio scale: an upward-sloping straight line b. Linear scale: an upward-sloping straight line Ratio scale: a straight horizontal line c. Linear scale: an upward-sloping straight line Ratio scale: an upward-sloping curve with decreasing slope (called concave shape) d. Linear scale: an upward-sloping convex curve Ratio scale: an upward-sloping convex curve
Plot the following system of equations on the following graph. System of Equations: p=6−2q p=3+q
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Briefly explain the use of graphs as a way to represent economic relationships. What is an inverse relationship? How does it graph? What is a direct relationship? How does it graph? Graph and explain the relationships (other things equal) you would expect to find between (a) the number of inches of rainfall per month and the sale of umbrellas, (b) the price of bottled water and the number of bottles sold per year, and (c) the popularity of an entertainer and the price of her concert tickets. In each case cite and explain how variables other than those specifically mentioned might upset the expected relationship. Is your graph in part b, above, consistent with the fact that, historically, the quantity and price of bottled water have both increased? If not, explain any difference.
The following graph contains four lines (A, B, C and D), each of which has a slope that is either positive, negative, zero, or infinite. Y-axisX-axisBDCA For each of the following scenarios, indicate whether the relationship between the two variables is positive or negative, as well as which line on the previous graph has a slope that reflects this type of relationship. Hint: The X-axis and Y-axis on the graph are not labeled intentionally. You need to substitute the variables from each scenario for the horizontal and vertical axis. For example, in the first scenario, X-axis should be labeled “ ice-cream" and Y-axis should be labeled "The temperature". Scenario Relationship Line As the temperature rises, the demand for ice-cream rises. Negative As the temperature rises, the demand for hot cocoa falls. Positive As the temperature falls, the demand for popsicles falls. Negative True or False: Line B has a slope of infinity.…
Refer to the figure below. According to this graph, the relationship between hours of study time and points on the exam is as follows: The relationship is first positive and then it turns negative. Positive but diminishing. Positive and increasing. a. b. C. d. Negative. Nonexistent. е. 10 8 9 0 12 Study time (hours) + vi 6:59 9 (WE2 UO SUIod) apEun
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Briefly explain the use of graphs as a way to represent economic relationships. What is an inverse relationship? How does it graph? What is a direct relationship? How does it graph? Graph and explain the relationships you would expect to find between ( a ) the number of inches of rainfall per month and the sale of umbrellas, ( b) the amount of tuition and the level of enrollment at a university, and (c ) the popularity of an entertainer and the price of her concert tickets. In each case cite and explain how variables other than those specififi cally mentioned might upset the expected relationship. Is your graph in previous part b consistent with the fact that, historically, enrollments and tuition have both increased? If not, explain any difference.
Sketch a graph to illustrate your idea of each of the following relationships. Be sure to label both axes appropriately. In each case, explain under what circumstances, if any, the curve could shift: The relationship between a person’s age and height Average monthly temperature over the course of a year A person’s income and the number of hamburgers consumed per month The amount of fertilizer added to an acre of land and the amount of corn grown on that land in one growing season An automobile's horsepower and it's gasoline mileage (in miles per gallon)
The gross domestic product (GDP) of the United States is defined as the market value of final goods and services produced within the United States all in a given period of time. 2. Activities included (and not included) in the calculation of GDP 2023 GDP Included Excluded Based on this definition, indicate which of the following transactions will be included in (that is, directly increase) the GDP of the United States in 2023. O O о о Scenario An accountant starts a client's 2023 tax return on April 14, 2024, finishing it just before midnight on April 15, 2024. Generic Motor Company, a U.S. automobile company, produces a pickup truck at a manufacturing facility in Lordstown on January 23, 2023. It sells the car at a dealership in San Francisco on February 14, 2023. Graincorp, a U.S. agricultural company, produces corn syrup at a plant in Iowa on September 11, 2023. It sells the corn syrup to Crunchy's for use in the production of cereal that will be made in the United States in 2023.…
am. 115.
Question Under what conditions would a transfer of income from the richest 10% of the population to the poorest 10% of the population increase aggregate consumption and decrease aggregate savings? Under what conditions would such a transfer decrease Consumption and increase Aggregate Savings? Carefully explain using graphical analysis where appropriate, making sure to define the key terms and relationships you use in your answer.