The Price Index Was 170 in the First Year,180 in the Second

question 159

Multiple Choice

The price index was 170 in the first year,180 in the second year,and 195 in the third year.The inflation rate was about

• A)5.6 percent between the first and second years,and 7.7 percent between the second and third years.
• B)5.9 percent between the first and second years,and 8.3 percent between the second and third years.
• C)10 percent between the first and second years,and 15 percent between the second and third years.
• D)80 percent between the first and second years,and 95 percent between the second and third years.

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Definitions:

Anthropologists

Scientists who study human societies, cultures, and their development.

Conspicuous Consumption

The spending of money on and the acquisition of luxury goods and services to publicly display economic power, status, or wealth.

Prestige And Status

Recognition and respect received from others based on achievements, position, or quality of character, which often influences social ranking.

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to an interconnected world.