Give an example of a direct relationship between two variables. Why is this type of relationship sometimes referred to as a positive relationship? Next, Give an example of an inverse relationship between two variables. Why is this type of relationship sometimes referred to as a negative relationship? Finally, what is a complex relationship?

Question no 2

How do economists understand the nature of growth? For example, if US Nominal GDP (Gross Domestic Product not adjusted for inflation) was $20 trillion in 2018 and rose to $22 trillion in 2019, what was the rate of growth from 2018 to 2019? Is there more than one way to measure growth? If so, explain. What does a negative growth rate mean? Can you cite an example of a negative growth scenario?

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Example of a direct relationship between two variables An example of a direct relationship is the relationship between the number of hours worked and ... View the full answer