-In the Above Figure, the Axis Break in the X-

question 144

Multiple Choice

-In the above figure, the axis break in the x- axis

• A)shows that there is no relationship between inflation and unemployment.
• B)misleadingly shows that inflation has changed very little even though the unemployment rate has increased a great deal.
• C)reflects the fact that for the years covered in the figure, the unemployment rate was never less than 3 per cent.
• D)implies that for the years covered in the figure, the inflation rate was always greater than 1 per cent.

---

Definitions:

Product X

A placeholder name commonly used to represent a generic or unspecified product in discussions of economic theory and marketing.

Resources

Natural, human, and capital assets used to produce goods and services.

Diminishing Returns

A principle stating that if one factor of production is increased while other factors are held constant, the incremental output gained will eventually decrease.

Study Time

The amount of time allocated towards learning or academic activities outside formal teaching sessions.