You Can Use the INDEX Function to Look Up Data

question 144

Multiple Choice

You can use the INDEX function to look up data stored in a single row, such as B3:E3, or a single column, such as B3:B7. In this case, you enter the range as the ____ argument.

• A) first
• B) second
• C) third
• D) fourth

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Definitions:

Income Inelastic

A situation where the demand for a good does not significantly change with a change in consumer's income.

Real Prices

Prices that have been adjusted for inflation, reflecting the true purchasing power of money over time.

Inflation-Adjusted

Describes values that have been modified to account for changes in the purchasing power of money due to inflation, allowing for comparison over different time periods.

Long-Run Path

The trajectory of economic performance or output when all inputs, including capital and labor, are adjusted to their most efficient state over time.