MACROECONOMICS >C< W/MYECONLAB
18th Edition
ISBN: 9781323886038
Author: Pearson
Publisher: Pearson Custom Publishing
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Chapter 1.A, Problem 2P
To determine
Relationship between income and consumption.
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The accompanying table shows a portion of quarterly data for real personal consumption (Consumption in $) and real personal
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Date
Q1,2000
Q2, 2000
A
Q4,2019
Consumption
8520.71
8603.01
⠀
13411.94
Income
9338.68
9441.95
1
15100.13
pictureClick here for the Excel Data File
a. Construct a scatterplot of Consumption against Income. Given the scatterplot, which statement best describes the relationship
between Consumption and Income?
O Consumption and Income have a positive relationship.
O Consumption and Income have a negative relationship.
O Consumption and Income have no relationship.
O Consumption and Income have a U-shaped (nonlinear) relationship.
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