Question 5 (1 point) Consider the relationship between the outside temperature a

Question

Question 5 (1 point) Consider the relationship between the outside temperature and people's expenditure on air conditioning. During the summer months in the U.S., these two variables most likely will be A) directly related. B) inversely related. C) independent of each other. D) unrelated to each other Save Question 6 (1 point) If you calculate the slope of a line that shows an inverse relationship between two variables, the resulting number will be A) between 1 and -1,/ B) zero C) positive. D) negative.

Explanation / Answer

5. A) directly related

Increase in outside temperature means more expenditure on air conditioning.

6. D) negative

Slope = - Change in Y/Change in X

7. C) a shift of a curve

A demand or supply curve shows two variables on the graph i.e. price and quantity. Change in any other variable causes rightward or leftward shift of curve. For example: Change in taste and preference of consumer shifts the demand curve.

8. B) inverse

Graph shows negative relationship between the price of pizza and its quantity demanded. Increase in pizza price causes decrease in its demand and vice-versa.

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