It means that the object is moving at a high speed in a direction towards or away from the reference point.
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No. The distance of a line on a graph will not affect how steep it is. Distance does not affect slope.
Diagonal line
With distance on the x axis and time on the y axis a steep line would indicate a short distance traveled over a long period of time, depending on the scale of the graph.
It means that the speed of the object is constant.
It means that as time goes on, the distance increases quickly.