Chapter 1 Appendix

MACROECONOMICS: EXPLORE & APPLYby Ayers and Collinge Chapter 1Appendix

Working with Graphs and Data • Graphs clarify thoughts and show economic relationships in a way that can be more easily understood that with words alone.

Working with Graphs and Data • Graphs that present factual information are often drawn as line graphs, bar charts, and pie charts. • Other graphs represent economic models and contain lines that are referred to as curves.

Direct versus InverseRelationships Y variable Direct Relationship (positive) upward sloping to the right. Inverse Relationship (negative) downward sloping to the right. X Variable

Direct Relationships

E D 100 C B 10 A Positive Slope Umbrella Sales 500 Slope = 100/10 = 10 400 300 200 100 Yearly Rainfall 10 20 30 40 50 60 70 80

Inverse Relationships

J I -100 H 10 G F Negative Slope Sales of woolen coats 500 Slope = -100/10 = -10 400 300 200 100 January temperatures 10 20 30 40 50 60 70 80

-25 1 Information at the Margin The slope shown equals –25, which means that the additional spending by restaurant customers decreases by $25 with each passing hour. Incremental Spending 100 75 50 0 Hours 1 2 3

E D C B A A Shift in the Curve Umbrella Sales When a curve changes position, we say there has been a shift in the curve. A shift represents a new relationship between the variables. 500 400 300 200 100 Yearly Rainfall 10 20 30 40 50 60 70 80

At the intersection point of two curves, their values are identical. A An Intersection Point Y Curve 1 Curve 1 X

The End! Next Chapter 2 “Production and Trade"

Chapter 1 Appendix

Chapter 1 Appendix

Presentation Transcript

Chapter 11 Appendix

Appendix 1

Chapter 1 Appendix

Appendix Chapter 1

Chapter 3 Appendix

Appendix 1

APPENDIX 1

Appendix ( Chapter 7 )

Appendix to Chapter 1:

Appendix 1

Appendix 1

Appendix 1

CHAPTER SIX APPENDIX

Chapter 2 Appendix

Appendix 1

Chapter Five Appendix

Appendix 1

Chapter 1. Appendix

Appendix 1

Appendix 1

Appendix 1

Chapter 16 Appendix