Question

In: Economics

You believe that the total amount of goods produced in the United States has generally increased...

You believe that the total amount of goods produced in the United States has generally increased over the years. In a time-series graph illustrating the total amount produced, you expect to find

A) an upward trend.

B) an inverse relationship between time and the amount of goods produced.

C) a linear relationship.

D) no relationship between time and the amount of goods produced.

Solutions

Expert Solution

It shall be noted that a time-series graph is a line graph of repeated measurements taken over regular time intervals. Time is always shown on the horizontal axis. On the time-series graphs, data points are drawn at regular intervals and the points joined, usually with straight lines. Time-series graphs help to show trends or patterns.

Thus, on observing the time-series graph for the total amount of goods produced in the United States over the years, if one were to believe that the total amount of goods produced in the United States has generally increased over the years, it means, one wants to convey that there is an upward trend in the total amount of goods produced in the United States over the years.

Hence, the correct answer is A) an upward trend.


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