Which of the Following Statements Is True

question 22

Multiple Choice

Which of the following statements is true?

• A) Base year prices are necessarily higher than current year prices.
• B) The CPI in the base year is 100.
• C) If the CPI is 112 in year 1 and 123 in year 2, prices have risen by approximately 9.8 percent between the two years.
• D) b and c
• E) a, b, and c

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Definitions:

Post-Fordism

An economic and social system that emerged in the late 20th century, characterized by more flexible production methods, workforce strategies, and a shift from mass production to customized goods.

Diffusion Of Capitalism

Refers to the spread of capitalist structures and market-oriented economic systems across different countries and regions over time.

Proletariat

The class of wage-earners in a capitalist society whose only significant material value is their labour-power.

Communist Manifesto

A political document written by Karl Marx and Friedrich Engels that outlines the principles of communism and calls for the proletariat's uprising.