Consider the Following Three Functions

question 40

Multiple Choice

Consider the following three functions:
g(x, y) = 4x - 3y + 21
H(x, y, z) = 13x² + y + 3z
I(z) = z
Which of the following is true regarding the linearity of the functions?

• A)none of the functions is linear
• B)all three functions are linear
• C)h is linear, but g and i are not linear
• D)i is linear, but g and h are not linear
• E)g and i are linear, but h is not linear

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Definitions:

Price Level

The average of current prices across all goods and services in an economy, indicating the overall cost of living or inflation rate.

Purchasing Power

How much goods or services one unit of currency can procure, defining the currency's value.

Liquid Assets

Assets that can be quickly and easily converted into cash without significant loss in value.

Full Employment Level

An economic condition in which virtually all individuals willing and able to work at prevailing wage rates are employed.