What is meant by a direct and inverse relationship between economic variables? Illustrate, how each of the following relationships would appear, and indicate whether each relationships is direct or inverse.
a) Inches of rain and sales of umbrellas
b) Tuition and students demanding to enroll in a university
c) Consumers purchasing the same amount of gasoline regardless of its price
d) Salaries and years of education

Answer rating: 100% (QA)

So a direct relationship means that if one increases the other increases Lik... View the full answer