Write the Word or Phrase That Best Completes Each Statement

question 379

Essay

Write the word or phrase that best completes each statement or answers the question.
-The table shows the average hourly wage for non-managerial office workers in a town in Indiana (in dollars) for the years shown. Write each paired data as an ordered pair of the form (year, wage). Then create a scatter diagram of the ordered pairs.
$\begin{array} { | c | c | } \hline & \begin{array} { l } \text { Average Hourly } \\\text { Year }\end{array} \\\hline 1994 & 10.54 \\\hline 1995 & 11.16 \\\hline 1996 & 12.45 \\\hline 1997 & 11.94 \\\hline 1998 & 12.05 \\\hline 1999 & 13.71 \\\hline\end{array}$

---

Definitions:

Demand Functions

An equation that illustates the relationship between the price of a product and the quantity demanded by consumers.

Income Offer Curve

A graphical representation showing how changes in income affect the quantities of goods consumed, holding prices constant.

Prices

The monetary value necessary to acquire a good or service.

Income

Periodic earnings from professional activities or financial investments.