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Macroeconomics 19th Edition by Campbell McConnell , Stanley Brue,Sean Flynn
Edition 19ISBN: 978-0077337728Macroeconomics 19th Edition by Campbell McConnell , Stanley Brue,Sean Flynn
Edition 19ISBN: 978-0077337728 Exercise 1
Graph and label as either direct or indirect 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.
Explanation
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( a )
Relation between number of inches of rainfall per month and the sale of umbrellas is direct relation. If number of inches of rainfall per month increases then sale of umbrellas are increases and vice versa.
Relation between number of inches of rainfall per month and the sale of umbrellas is represented in figurE1.1:
According to figurE1.1, if rainfall increases from R 1 to R 2 then sale of umbrellas will increase from U ₁ to U ₂ and vice versa. If rainfall increases from R 2 to R 3 then sale of umbrellas will increase from U ₂ to U ₃ and vice versa.
Therefore, relation between number of inches of rainfall per month and the sale of umbrellas is direct relation.
( b )
Relation between tuition and enrollment of students at universities is indirect relation. If tuition fee is higher, then enrollment at universities will decrease due to cost. Many people cannot afford high tuition.
Relation between tuition and enrollment of students at universities is represented in figurE1.2:
According to figurE1.2, if tuition fee increases from T1 to T2 then enrollment at universities will decrease from E2 to E1 and vice versa. If tuition fee increases from T2 to T3 then enrollment at universities will decrease from E3 to E2 and vice versa.
Therefore, Relation between tuition and enrollment of students at universities is indirect relation.
( c )
Relation between popularity of the entertainer and the price of her concert tickets is direct relation. As an entertainer becomes more popular, the price of their concert tickets increases because people will pay a higher price to see them.
Relation between popularity of the entertainer and the price of her concert tickets is represented in figurE1.3:
According to figurE1.3, if popularity of the entertainer increases from P1 to P2 then price of her concert tickets will increase from T1 to T2 and vice versa. If popularity of the entertainer increases from P2 to P3 then price of her concert tickets will increase from T2 to T3 and vice versa.
Therefore, relation between popularity of the entertainer and the price of her concert tickets is direct relation.
Relation between number of inches of rainfall per month and the sale of umbrellas is direct relation. If number of inches of rainfall per month increases then sale of umbrellas are increases and vice versa.
Relation between number of inches of rainfall per month and the sale of umbrellas is represented in figurE1.1:
According to figurE1.1, if rainfall increases from R 1 to R 2 then sale of umbrellas will increase from U ₁ to U ₂ and vice versa. If rainfall increases from R 2 to R 3 then sale of umbrellas will increase from U ₂ to U ₃ and vice versa. Therefore, relation between number of inches of rainfall per month and the sale of umbrellas is direct relation.
( b )
Relation between tuition and enrollment of students at universities is indirect relation. If tuition fee is higher, then enrollment at universities will decrease due to cost. Many people cannot afford high tuition.
Relation between tuition and enrollment of students at universities is represented in figurE1.2:
According to figurE1.2, if tuition fee increases from T1 to T2 then enrollment at universities will decrease from E2 to E1 and vice versa. If tuition fee increases from T2 to T3 then enrollment at universities will decrease from E3 to E2 and vice versa. Therefore, Relation between tuition and enrollment of students at universities is indirect relation.
( c )
Relation between popularity of the entertainer and the price of her concert tickets is direct relation. As an entertainer becomes more popular, the price of their concert tickets increases because people will pay a higher price to see them.
Relation between popularity of the entertainer and the price of her concert tickets is represented in figurE1.3:
According to figurE1.3, if popularity of the entertainer increases from P1 to P2 then price of her concert tickets will increase from T1 to T2 and vice versa. If popularity of the entertainer increases from P2 to P3 then price of her concert tickets will increase from T2 to T3 and vice versa. Therefore, relation between popularity of the entertainer and the price of her concert tickets is direct relation.
Macroeconomics 19th Edition by Campbell McConnell , Stanley Brue,Sean Flynn
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