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Table: Wages and Hours Willing to Work
-(Table: Wages and Hours Willing to Work) Look at the table Wages and Hours Willing to Work, which shows data on wage per hour and the number of hours someone is willing to work. Which variable would economists put on the vertical axis?
A)Either variable
B)the wage, because even though it is the independent variable, it is a price
C)hours willing to work, because it is the dependent variable
D)neither variable

Question

Use the following to answer questions :
Table: Wages and Hours Willing to Work 
-(Table: Wages and Hours Willing to Work) Look at the table Wages and Hours Willing to Work, which shows data on wage per hour and the number of hours someone is willing to work. Which variable would economists put on the vertical axis?
A)Either variable 
B)the wage, because even though it is the independent variable, it is a price 
C)hours willing to work, because it is the dependent variable 
D)neither variable

Quizplus · Accepted Answer

Economists typically place the wage on the vertical axis because it is considered a price, and prices are usually represented on the vertical axis in economic graphs.

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