Write the Word or Phrase That Best Completes Each Statement

question 167

Essay

Write the word or phrase that best completes each statement or answers the question.
Solve.
-The table shows the number of cookies sold at a bake sale according to their diameter in
inches. Write the ordered pair data as an ordered pair of the form (diameter, number sold).
Then create a scatter diagram of the ordered pairs.. $$\begin{array}{l}\text { Diameter of Cookie }\\\begin{array} { c | c } \text { (in inches) } & \text { Number Sold } \\\hline 1 & 150 \\1.5 & 300 \\2 & 450 \\2.5 & 250 \\3 & 350\end{array}\end{array}$$

---

Definitions:

Inflation Rate

The speed at which the aggregate price level for goods and services goes up, undermining the power of purchasing.

Nominal Interest Rate

The rate of interest before adjustments for inflation; the stated rate on a loan or investment.

Real Interest Rate

The Real Interest Rate is the nominal interest rate adjusted for inflation, reflecting the true cost of borrowing or the true return on savings.

Economic Efficiency

Refers to the optimal production and distribution of resources to maximize social welfare and minimize waste.