Inputs Using an Excel Spreadsheet Are Almost Identical to Those

question 114

True/False

Inputs using an Excel spreadsheet are almost identical to those on a financial calculator,except the interest rate is entered either as a decimal (.05)or a whole number followed by a % sign (5%)rather than simply a whole number (5)as you would enter using a financial calculator.

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Definitions:

Budget Lines

Graphical representations of all possible combinations of two goods that a consumer can afford given their income and the prices of the goods.

Indifference Curves

Graphical representations in microeconomics showing different bundles of goods between which a consumer is indifferent.

Linear

A relationship or function that can be graphically represented in two dimensions by a straight line.

Consumer Utility

A measure of satisfaction or happiness that consumers derive from consuming goods and services.