Macroeconomics
13th Edition
ISBN: 9780134735696
Author: PARKIN, Michael
Publisher: Pearson,
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Chapter 1.A, Problem 15APA
(a)
To determine
The relationship between the variables.
(b)
To determine
The relationship between the variables.
(c)
To determine
The economic relationship between the other variables.
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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.
Chapter 1 Solutions
Macroeconomics
Ch. 1.1 - Prob. 1RQCh. 1.1 - Prob. 2RQCh. 1.1 - Prob. 3RQCh. 1.2 - Prob. 1RQCh. 1.2 - Prob. 2RQCh. 1.3 - Prob. 1RQCh. 1.3 - Prob. 2RQCh. 1.3 - Prob. 3RQCh. 1.3 - Prob. 4RQCh. 1.3 - Prob. 5RQ
Ch. 1.4 - Prob. 1RQCh. 1.4 - Prob. 2RQCh. 1.4 - Prob. 3RQCh. 1.4 - Prob. 4RQCh. 1.5 - Prob. 1RQCh. 1.5 - Prob. 2RQCh. 1.5 - Prob. 3RQCh. 1.A - Prob. 1RQCh. 1.A - Prob. 2RQCh. 1.A - Prob. 3RQCh. 1.A - Prob. 4RQCh. 1.A - Prob. 5RQCh. 1.A - Prob. 6RQCh. 1.A - Prob. 7RQCh. 1.A - Prob. 8RQCh. 1.A - Prob. 9RQCh. 1.A - Prob. 10RQCh. 1.A - Prob. 11RQCh. 1.A - Prob. 1SPACh. 1.A - Prob. 2SPACh. 1.A - Prob. 3SPACh. 1.A - Prob. 4SPACh. 1.A - Prob. 5SPACh. 1.A - Prob. 6SPACh. 1.A - Prob. 7SPACh. 1.A - Prob. 8SPACh. 1.A - Prob. 9SPACh. 1.A - Prob. 10SPACh. 1.A - Prob. 11SPACh. 1.A - Prob. 12APACh. 1.A - Prob. 13APACh. 1.A - Prob. 14APACh. 1.A - Prob. 15APACh. 1.A - Prob. 16APACh. 1.A - Prob. 17APACh. 1.A - Prob. 18APACh. 1.A - Prob. 19APACh. 1.A - Prob. 20APACh. 1.A - Prob. 21APACh. 1.A - Prob. 22APACh. 1.A - Prob. 23APACh. 1 - Prob. 1SPACh. 1 - Prob. 2SPACh. 1 - Explain how the following news headlines concern...Ch. 1 - Prob. 4SPACh. 1 - Prob. 5SPACh. 1 - Prob. 6SPACh. 1 - Prob. 7APACh. 1 - Prob. 8APACh. 1 - Prob. 9APACh. 1 - Prob. 10APACh. 1 - Prob. 11APACh. 1 - Prob. 12APACh. 1 - Prob. 13APA
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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.arrow_forwardOn a graph, a positive linear relationship moves down from left to right. This statement is right or wrong? WHY?arrow_forwardWhat type of relationship would you expect between thefollowing?a. Sales of hot dogs and sales of hot dog bunsb. The price of winter coats and sales of winter coatsc. The price of personal computers and the production ofpersonal computersd. Sales of toothbrushes and sales of cat foode. The number of children in a family and the number oftoys in a family2. Represent the following data in bar graph form.arrow_forward
- The accompanying graph shows curve XX' and tangents to the curve at points A, B, and C. Calculate the slope of the curve at each of these three points.arrow_forwardWhat is the variable that adjusts the effect of the independent variable on the dependent variable (one word)arrow_forwardThe relationships between some economic variables w, y, and z and another economic variable, x, are shown in the graph above. Notice that the horizontal axis is labeled “x” since they are all functions of x but the vertical axis is not labeled. 1-1 Does the vertical axis need a label in order for you to be able to understand the graph?1-2What value of x minimizes w?arrow_forward
- How would you interpret (1) an upward sloping curve and (2) a downward slope curve in a two variable diagram?arrow_forwardWhich of the following pairs is most likely to exhibit an inverse relationship?a. The amount of time you study and your grade point averageb. People’s annual income and their expenditure on personal computersc. Baseball players’ salaries and their batting averagesd. The price of a concert and the number of tickets that people purchasearrow_forward
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