Econ 104- Chapter 1 Flashcards Preview

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Flashcards in Econ 104- Chapter 1 Deck (10):
1

Graph

a two-dimensional rep. of a set of numbers and data

2

Negative Relationship

a relationship between two variables, X and Y, in which a decrease in X is associated with an increase in Y and an increase in X is associated with a decrease in Y.

3

Origin

the point at which the horizontal and vertical axes intersect

4

Positive Relationship

a relationship between two variables, X and Y, in which a decrease in X is associated with a decrease in Y, and in increase in X is associated with an increase in Y.

5

Slope

a measurement that indicates whether the relationship between variables is positive or negative and how much of a response there is in Y (the variable on the vertical axis) when X (the variable on the horizontal axis) changes.

6

Time Series Graph

a graph illustrating how a variable changes over time.

7

X- Axis

the horizontal line against which a variable is plotted

8

X- Intercept

the point at which a graph intersects the X-axis

9

Y-Axis

the vertical line against which a variable is plotted

10

Y-intercept

the point at which a graph intersects the Y-axis