CHSESSION 1.2: SELF-ASSESSMENT EXERCISE1. Briefly explain the use of graphs as a way to represent economic relationships. What isan inverse relationship? How does it graph? What is direct relationship? How does itgraph?2. Graph each of the following sets of numbers in table 2 below. Draw a line through thepoints and calculate the slope of each line.2X41231Y51020X05202Y051020X1233Y252015X0.10.3Y100755025Table 23. For each of the graphs in table 2 above, determine whether the curve has a positive ora negative slope. Give an intuitive explanation for what is happening with the slope ofeach curve.ICON 1000 Principles of Economics I- UNIT 111

Graphs helps us to analyze the type of relationships between 2 variables. Between 2 economic…

SESSION 1.2: SELF-ASSESSMENT EXERCISE 1. Briefly explain the use of graphs as a way to represent economic relationships. What is an inverse relationship? How does it graph? What is direct relationship? How does it graph? 2. Graph each of the following sets of numbers in table 2 below. Draw a line through the points and calculate the slope of each line. X 1 C 1 Y 5 10 X 0 5 2 Y 0 5 X 1 2 3 Y 25 20 X 0.1 0.2 4 Y 100 75

SESSION 1.2: SELF-ASSESSMENT EXERCISE 1. Briefly explain the use of graphs as a way to represent economic relationships. What is an inverse relationship? How does it graph? What is direct relationship? How does it graph? 2. Graph each of the following sets of numbers in table 2 below. Draw a line through the points and calculate the slope of each line. X 1 C 1 Y 5 10 X 0 5 2 Y 0 5 X 1 2 3 Y 25 20 X 0.1 0.2 4 Y 100 75

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 3TY

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