Final answer:
To determine the amount of change in Y as a product of X, data pairs of X and Y are plotted on a graph, showing Y's response to X. Economics often use algebraic frameworks to predict changes in real GDP based on tax changes, illustrating the practical application of this concept.
Step-by-step explanation:
If you are interested in knowing the amount of change in Y as a product of X, you are looking at how Y varies in response to changes in X. This relationship is typically represented on a graph where data pairs are plotted to show how Y changes with different values of X.
For example, if we were plotting the data on a graph, we would place specific numbers on the price and quantity axis, and identify how changes in one affect the other. In economics, such relationship might be used to predict how a change in income taxes can affect real GDP. The algebraic framework, such as Y-0.48Y = 1940, can solve for Y and provide specific insights.
Analyze the data pairs and graph them to see how a change in X results in a change in Y. The slope of the line on the graph will indicate the rate at which Y is changing relative to X.