Which of the Following Is TRUE Regarding a Trend

question 259

Multiple Choice

Which of the following is TRUE regarding a trend?
I. A cross section graph shows trends.
II. A time-series graph shows trends.
III. A scatter plot shows trends over time.

• A) I
• B) II
• C) I and II
• D) II and III

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Definitions:

Quantity Demanded

Refers to the total amount of a good or service that consumers are willing and able to purchase at a given price in a given period.

Quantity Supplied

The total amount of a good or service that producers are willing to sell at a given price over a specific period.

Demand Increase

A situation where there is a higher quantity of a good or service desired at each price level, often depicted as a rightward shift of the demand curve.

Price Of Inputs

The cost associated with acquiring the raw materials or factors used in the production of goods and services.