chapter 2: graphing basics

Question 1

what are the two types of graphs we will be using

Answer 1

1. descriptive graphs

2. analytical graphs

Question 2

what are descriptive graphs

Answer 2

describe events that have actually occurred in the economy

Question 3

what are analytical graphs

Answer 3

visual representations of a theory or model

• economic model might take the form of
  - verbal description
  - numerical table
  - graphs

Question 4

most case the data you are given will produce with type of curve

Answer 4

smooth curves

Question 5

need more

Answer 5

need more