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Katie is at Niagara Falls,staring at the downward rush of the water for several seconds.When she then looks at the nearby trees and rocks,they will seem to be:
Consumption
The employment of goods and services within home environments.
Income
Monetary payment received for work or through investments.
Interest Rate
The fraction of a loan that incurs interest costs for the borrower, usually described as an annual percentage rate.
Utility Function
A mathematical representation of how a consumer's satisfaction or preference for goods and services is dependent on their consumption levels.
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