Draw a Scatter Plot of the Data Given in the Table

question 215

Multiple Choice

Draw a scatter plot of the data given in the table.
-The total in billions of dollars of U.S. exports to a particular country from 1995 to 1999 is given in the following table.

• A) billions of dollars
• B) billions of dollars
• C) billions of dollars
• D) billions of dollars

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Definitions:

Normal Good

A type of good for which demand increases when income increases, and falls when income decreases, but price remains constant.

Inferior Good

A type of good for which demand decreases as the income of individuals or the economy increases, opposite to what is observed with a normal good.

Law of Supply

It states that, all else equal, an increase in the price of a good or service will lead to an increase in the quantity supplied.

Law of Demand

An economic principle stating that the quantity demanded of a good decreases as its price increases, all else being equal, and vice versa.