If the Consumer Price Index Falls from 120 to 116

question 201

Multiple Choice

If the consumer price index falls from 120 to 116 in a particular year, the economy has experienced

• A)inflation of 4 percent.
• B)inflation of 3.33 percent.
• C)deflation of 3.33 percent.
• D)deflation of 4 percent.

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Definitions:

Objectivity

The quality of being unbiased, unprejudiced, and based on observable phenomena and facts.

Research Methods

Systematic procedures for collecting and analyzing data to increase understanding of a topic or issue.

Mental Representations

The internal images, ideas, concepts, and thoughts that represent one's external reality.

Skinner

An influential American psychologist best known for his work in behaviorism and the development of the theory of operant conditioning.