Describe the equation of a linear relationship
Describe the equation of a linear relationship?
Expert
1. If the vertical intercept and the slope are known, the general form y = a + bx describes the line.
2. y represents the variable on the vertical axis (the dependent variable in standard mathematical form) a is the vertical intercept, b is the slope of the line, and x represents the variable on the horizontal axis (the independent variable in standard mathematical form).
3. The income—consumption example places the dependent and the independent in proper mathematical form.
4. The price-quantity example reverses their position and places price (the independent variable) on the vertical axis and quantity (the dependent variable) on the horizontal axis.
Use the circular flow model to confirm this assertion for $50 million increase in spending for space research?
A perfectly competitive firm produces 3,000 units of a good at a total cost of $36,000. The cost of each good is $10. Calculate the firm's short-run profit or loss. w) loss of $6,000. x) profit of $6,000. y profit of $30,000. z) There is insufficient
Evaluate and explain the statements: “The market system is a profit-and-loss economy”
Use the circular flow model to confirm this assertion for the levying of a tax on air polluters?
Double coincidence of wants: This means that one person's wishing to buy and sell should coincide with another person’s wish to buy and sell.
Illustrate Professional and personal applications?
Explain: “Affluence tomorrow requires sacrifice today.”
Describe the meaning of the term “invisible hand.”
The person along with, arguably, the top claim to the name “founder of modern economics”: (1) John Stuart Mill. (2) Karl Marx. (3) John Maynard Keynes. (4) Joan Robinson. (5) Adam Smith. Hello guys I wa
Illustrate major economic flows that link U.S. with nations. Provide an example to illustrate each flow. Explain the relationship between the top and bottom flows.
18,76,764
1922839 Asked
3,689
Active Tutors
1448468
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!