Economic Models
Try It
Answer to Try It
- graphically
Incorrect. While a graph would provide a view of the direction of the relationship, the magnitude of the relationship is difficult to capture visually. - mathematically
Correct. Using math, both the direction of the relationship and its magnitude are more easily determined. - by creating a model
Incorrect. While a graph would provide a view of the direction of the relationship, the magnitude of the relationship is difficult to capture visually.