Use Estimation to Select the Best Response $540$ B) 1 $\frac { 1 } { 2 }$

question 56

Multiple Choice

Use estimation to select the best response. If a loan is held for 540 days, then t is about __________.

• A) \(540\)
• B) 1 \(\frac { 1 } { 2 }\)
• C) \(10\)
• D) \(1 \frac { 1 } { 4 }\)
• E) \(3\)

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Definitions:

Recession

A spell of economic retrenchment characterized by a reduction in manufacturing and trade activities, typically signified by two successive quarters of GDP decline.

Inflation

How quickly the average cost of goods and services goes up, resulting in a decrease in the ability to purchase.

Economic Growth

A rise in the output of goods and services in an economy over a certain period, frequently assessed using GDP.

Federal Budget Deficit

The financial situation where the federal government's expenditures exceed its revenues within a given fiscal year.