Which of the Following Terms Refers to an Index for Fuel

question 45

Multiple Choice

Which of the following terms refers to an index for fuel consumption?

• A)growing degree-days
• B)consumer price index
• C)mean annual temperature
• D)heating degree-days

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Definitions:

Utility Function

A mathematical representation in economics of a consumer's preference ordering over a set of goods and services.

Consumption

The process by which goods and services are used up or consumed by individuals or groups.

Income

The monetary payment received for labor, services, or investment, constituting the financial resource individuals, businesses, or governments use for spending and saving.

Interest Rate

The proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan balance.