The sign of the slope of a graph in economic analysis is ...
The sign of the slope of a graph in economic analysis is important because it
Shows whether a good is normal or inferior
Shows the relationship between variables
Reveals the magnitude of the change between variables
Helps to determine the unit of measurement of variables
Correct answer is C
The concept of slope is important in economics because it is used to measure the rate at which changes are taking place. It shows how things change and about how one item changes in response to a change in another item.
Amount of goods offered to the market at respective prices and presented in a table is called ...
In the short-run a firm marginal cost curve above the point of shut-down is its ...
At the highest level of total utility, marginal utility is ...
A production possibility curve shows ...
An increase in money supply, other things being equal, will ...
When elasticity is zero the demand curve is ...
Which of the following is regarded as fixed cost? ...
Which of the following is NOT an internal dis-economy of scales? ...
The following are advantages of standard deviation EXCEPT that it ...
When the total products is at its maximum, marginal products is ...