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.
In the the longrun, a firm must shut down if its average revenue is? ...
The reward for land as a factor of production is ...
A consumer maximizes his utility in consuming a good 'X' when ...
The money that commands a higher market value than its face value is called ...
A major advantage of industrialization is that it ...
Indirect taxes are generally ...
When the demand for a commodity is inelastic, who bears the greater burden of the indirect tax? ...
Which of the following functions of money is mostly affected during inflation? ...