If Two Sets of Data Are Inversely Related, They Will

question 57

True/False

If two sets of data are inversely related, they will appear on a graph as an upward-sloping line.

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Definitions:

National Income

Total income earned by resource suppliers for their contributions to gross domestic product plus taxes on production and imports; the sum of wages and salaries, rent, interest, profit, proprietors’ income, and such taxes.

U.S. Farm Products

Agricultural commodities produced in the United States, including grains, fruits, vegetables, meat, and dairy products.

Economic Growth

(1) An outward shift in the production possibilities curve that results from an increase in resource supplies or quality or an improvement in technology; (2) an increase of real output (gross domestic product) or real output per capita.

Technological Change

The introduction of new technologies or the improvement of existing ones, which can significantly impact productivity, efficiency, and value creation in various sectors.