What Is a Coordinate System Used For

question 222

Multiple Choice

What is a coordinate system used for?

• A) to show the flow of income and products in an economic system
• B) to organize labour and other resources in the production process
• C) to allow economists to show two variables on a single graph
• D) to teach economists how to draw graphs consistently

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Definitions:

Compounded Annually

The process wherein the interest earned on an investment is added to the principal each year, and in the subsequent year, interest is earned on this new principal.

Market Rate

The prevailing price or interest rate available in the marketplace for goods, services, or securities at a given time.

Contract Rate

The interest rate stated in a contract, such as a loan or bond agreement.

Present Value

The value in present terms of a sum of money or cash flows due in the future, determined with a set rate of return.