All of the Following Statements Are TRUE About the Importance

question 88

Multiple Choice

All of the following statements are TRUE about the importance of external data sets EXCEPT:

• A)By using the external tools, you can avoid a lot of extra typing.
• B)Anything that is not stored in an Excel format or not stored locally is considered to be external data.
• C)Spreadsheet applications such as Excel offer a wide variety of tools to help the user extract external data and integrate it into reports so that it can be actively used to make better decisions.
• D)Common file formats that you can import include HTML, XML, text, and .accdb files from Microsoft Access.

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Definitions:

Producer Surplus

The differentiation between the amount at which producers are content to sell a good or service and their actual revenue.

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or service is not achieved or is not achievable through market means, often due to market failures or intervention.

Demand Curve

A visual display that illustrates the connection between a product's price and the amount consumers want to buy over a specified time frame.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity supplied, usually illustrating an upward slope.