A Long Distance Phone Service Charges $0

question 24

Multiple Choice

A long distance phone service charges $0.35 for the first 8 minutes and $0.05 for each additional minute or fraction thereof. Use the greatest integer function to write the cost C of a call in terms of time t (in minutes) . ​

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Definitions:

Money Supply Growth Rate

The rate at which the amount of money available in an economy grows, influencing inflation and economic activity.

Natural Rate of Unemployment

The level of unemployment consistent with a stable rate of inflation, determined by the structure of the labor market.

Inflation Rate

The percentage rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling.

Natural Rate of Unemployment

The level of unemployment consistent with a stable rate of inflation, also seen as the equilibrium between the labor force and the number of available jobs.