At the Beginning of the Twenty-First Century, Many Firms That

question 63

Multiple Choice

At the beginning of the twenty-first century, many firms that used only two digits to represent the year were faced with a major problem called the _____.

• A) Y2K issue
• B) H2R issue
• C) 2D issue
• D) ​2DGT issue

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Definitions:

Earnings

The amount of money received by an individual or organization in return for labor or services provided, or from investments.

Utility Function

A mathematical model representing an individual's preference ordering over a set of goods or outcomes.

Consumption

Consumption refers to the use of goods and services by households. It is an important component of GDP and economic analysis.

Interest Rate

The percentage of a sum of money charged for its use, typically expressed as an annual rate.