Exercise A1 Name three kinds of graphs and briefly state when is most appropriate to use each type of graph.

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Answer 1

Textbook Question

Chapter A, Problem 1RQ

Exercise A1

Name three kinds of graphs and briefly state when is most appropriate to use each type of graph.

Expert Solution & Answer

To determine

To state:

The different types of graphs.

Explanation of Solution

There are three types of graphs that is line graphs, pie graphs, and bar graphs.

A line graph is a graphical diagram which displays the changes in information over time. This is also referred as a line chart. In the line graph, there are points which are connected to information or data and shows continuous change. A line graph is used to compare different information, situations, and events. The lines in the graph can descend line or can ascend line based on data.

A pie graph or pie chart is used to display whole information, data, and statistics in an easy to read manner. A circle represents the whole data or group and it contains the slices of data called pie and the varying size of pie show how much data elements are existing in it. Generally, the pie graph used for classification of whole information into the subparts based on their characteristics.

A bar graph is a chart that uses the height of bars to depicts the comparisons between a set of information or data. These bars can be horizontal or vertical. For example, a comparison of the population between two countries India and China. The horizontal line will show the name of the country and the vertical line will show the size of the population. The bars constructed for these two countries will represent the comparison between these two country’s population.

Economics Concept Introduction

Graphs: The graph is a two-dimensional diagram that shows the mathematical relationship between the variables. It represents the numerical data in visual figure to understand the data easily and quickly.

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As indicated in the attached image, U.S. earnings for high- and low-skill workers as measured by educational attainment began diverging in the 1980s. The remaining questions in this problem set use the model for the labor market developed in class to walk through potential explanations for this trend. 1. Assume that there are just two types of workers, low- and high-skill. As a result, there are two labor markets: supply and demand for low-skill workers and supply and demand for high-skill workers. Using two carefully drawn labor-market figures, show that an increase in the demand for high skill workers can explain an increase in the relative wage of high-skill workers. 2. Using the same assumptions as in the previous question, use two carefully drawn labor-market figures to show that an increase in the supply of low-skill workers can explain an increase in the relative wage of high-skill workers.

Answer 2

Textbook Question

Chapter A, Problem 1RQ

Exercise A1

Name three kinds of graphs and briefly state when is most appropriate to use each type of graph.

Expert Solution & Answer

To determine

To state:

The different types of graphs.

Explanation of Solution

There are three types of graphs that is line graphs, pie graphs, and bar graphs.

A line graph is a graphical diagram which displays the changes in information over time. This is also referred as a line chart. In the line graph, there are points which are connected to information or data and shows continuous change. A line graph is used to compare different information, situations, and events. The lines in the graph can descend line or can ascend line based on data.

A pie graph or pie chart is used to display whole information, data, and statistics in an easy to read manner. A circle represents the whole data or group and it contains the slices of data called pie and the varying size of pie show how much data elements are existing in it. Generally, the pie graph used for classification of whole information into the subparts based on their characteristics.

A bar graph is a chart that uses the height of bars to depicts the comparisons between a set of information or data. These bars can be horizontal or vertical. For example, a comparison of the population between two countries India and China. The horizontal line will show the name of the country and the vertical line will show the size of the population. The bars constructed for these two countries will represent the comparison between these two country’s population.

Economics Concept Introduction

Graphs: The graph is a two-dimensional diagram that shows the mathematical relationship between the variables. It represents the numerical data in visual figure to understand the data easily and quickly.

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Answer 3

Textbook Question

Chapter A, Problem 1RQ

Exercise A1

Name three kinds of graphs and briefly state when is most appropriate to use each type of graph.

Expert Solution & Answer

To determine

To state:

The different types of graphs.

Explanation of Solution

There are three types of graphs that is line graphs, pie graphs, and bar graphs.

A line graph is a graphical diagram which displays the changes in information over time. This is also referred as a line chart. In the line graph, there are points which are connected to information or data and shows continuous change. A line graph is used to compare different information, situations, and events. The lines in the graph can descend line or can ascend line based on data.

A pie graph or pie chart is used to display whole information, data, and statistics in an easy to read manner. A circle represents the whole data or group and it contains the slices of data called pie and the varying size of pie show how much data elements are existing in it. Generally, the pie graph used for classification of whole information into the subparts based on their characteristics.

A bar graph is a chart that uses the height of bars to depicts the comparisons between a set of information or data. These bars can be horizontal or vertical. For example, a comparison of the population between two countries India and China. The horizontal line will show the name of the country and the vertical line will show the size of the population. The bars constructed for these two countries will represent the comparison between these two country’s population.

Economics Concept Introduction

Graphs: The graph is a two-dimensional diagram that shows the mathematical relationship between the variables. It represents the numerical data in visual figure to understand the data easily and quickly.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Textbook Question

Chapter A, Problem 1RQ

Exercise A1

Name three kinds of graphs and briefly state when is most appropriate to use each type of graph.

Expert Solution & Answer

To determine

To state:

The different types of graphs.

Explanation of Solution

There are three types of graphs that is line graphs, pie graphs, and bar graphs.

A line graph is a graphical diagram which displays the changes in information over time. This is also referred as a line chart. In the line graph, there are points which are connected to information or data and shows continuous change. A line graph is used to compare different information, situations, and events. The lines in the graph can descend line or can ascend line based on data.

A pie graph or pie chart is used to display whole information, data, and statistics in an easy to read manner. A circle represents the whole data or group and it contains the slices of data called pie and the varying size of pie show how much data elements are existing in it. Generally, the pie graph used for classification of whole information into the subparts based on their characteristics.

A bar graph is a chart that uses the height of bars to depicts the comparisons between a set of information or data. These bars can be horizontal or vertical. For example, a comparison of the population between two countries India and China. The horizontal line will show the name of the country and the vertical line will show the size of the population. The bars constructed for these two countries will represent the comparison between these two country’s population.

Economics Concept Introduction

Graphs: The graph is a two-dimensional diagram that shows the mathematical relationship between the variables. It represents the numerical data in visual figure to understand the data easily and quickly.

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Answer 5

Textbook Question

Answer 6

Textbook Question

Answer 7

Expert Solution & Answer

To determine

To state:

The different types of graphs.

Explanation of Solution

There are three types of graphs that is line graphs, pie graphs, and bar graphs.

A line graph is a graphical diagram which displays the changes in information over time. This is also referred as a line chart. In the line graph, there are points which are connected to information or data and shows continuous change. A line graph is used to compare different information, situations, and events. The lines in the graph can descend line or can ascend line based on data.

A pie graph or pie chart is used to display whole information, data, and statistics in an easy to read manner. A circle represents the whole data or group and it contains the slices of data called pie and the varying size of pie show how much data elements are existing in it. Generally, the pie graph used for classification of whole information into the subparts based on their characteristics.

A bar graph is a chart that uses the height of bars to depicts the comparisons between a set of information or data. These bars can be horizontal or vertical. For example, a comparison of the population between two countries India and China. The horizontal line will show the name of the country and the vertical line will show the size of the population. The bars constructed for these two countries will represent the comparison between these two country’s population.

Economics Concept Introduction

Graphs: The graph is a two-dimensional diagram that shows the mathematical relationship between the variables. It represents the numerical data in visual figure to understand the data easily and quickly.

Answer 8

Expert Solution & Answer

To determine

To state:

The different types of graphs.

Explanation of Solution

There are three types of graphs that is line graphs, pie graphs, and bar graphs.

A line graph is a graphical diagram which displays the changes in information over time. This is also referred as a line chart. In the line graph, there are points which are connected to information or data and shows continuous change. A line graph is used to compare different information, situations, and events. The lines in the graph can descend line or can ascend line based on data.

A pie graph or pie chart is used to display whole information, data, and statistics in an easy to read manner. A circle represents the whole data or group and it contains the slices of data called pie and the varying size of pie show how much data elements are existing in it. Generally, the pie graph used for classification of whole information into the subparts based on their characteristics.

A bar graph is a chart that uses the height of bars to depicts the comparisons between a set of information or data. These bars can be horizontal or vertical. For example, a comparison of the population between two countries India and China. The horizontal line will show the name of the country and the vertical line will show the size of the population. The bars constructed for these two countries will represent the comparison between these two country’s population.

Economics Concept Introduction

Graphs: The graph is a two-dimensional diagram that shows the mathematical relationship between the variables. It represents the numerical data in visual figure to understand the data easily and quickly.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

To determine

To state:

The different types of graphs.

Answer 12

Explanation of Solution

There are three types of graphs that is line graphs, pie graphs, and bar graphs.

A line graph is a graphical diagram which displays the changes in information over time. This is also referred as a line chart. In the line graph, there are points which are connected to information or data and shows continuous change. A line graph is used to compare different information, situations, and events. The lines in the graph can descend line or can ascend line based on data.

A pie graph or pie chart is used to display whole information, data, and statistics in an easy to read manner. A circle represents the whole data or group and it contains the slices of data called pie and the varying size of pie show how much data elements are existing in it. Generally, the pie graph used for classification of whole information into the subparts based on their characteristics.

A bar graph is a chart that uses the height of bars to depicts the comparisons between a set of information or data. These bars can be horizontal or vertical. For example, a comparison of the population between two countries India and China. The horizontal line will show the name of the country and the vertical line will show the size of the population. The bars constructed for these two countries will represent the comparison between these two country’s population.

Answer 13

Economics Concept Introduction

Graphs: The graph is a two-dimensional diagram that shows the mathematical relationship between the variables. It represents the numerical data in visual figure to understand the data easily and quickly.

Answer 14

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Exercise A1 Name three kinds of graphs and briefly state when is most appropriate to use each type of graph.

Explanation of Solution

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