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An index of clothing prices for 2014 based on 2000 is to be constructed. The clothing items
Considered are shoes and dresses. The information for prices and quantities for both years is given
Below. Use 2000 as the base period and 100 as the base value.
Determine the Aggregate price index for 2014.
Stereotypic Thinking
The process of applying generalized and oversimplified beliefs or opinions to individuals or groups.
Ingroup Bias
The tendency to favor members of one's own group over those of external groups in judgment and behavior.
Performance Boost
An improvement in performance, often due to certain interventions, motivations, or conditions.
Dual Process Approach
A cognitive theory that proposes there are two distinct systems in the mind, one intuitive and fast, and the other deliberative and slow, influencing decision making and reasoning.
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