When the CPI Increases from One Year to the Next

question 45

Multiple Choice

When the CPI increases from one year to the next:

• A) the cost of living has decreased.
• B) deflation has occurred.
• C) more money must be spent to buy the same amount of goods as the previous year.
• D) All of these are true.

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Definitions:

Services

Intangible products provided to consumers, such as repairs, entertainment, or consultation, which do not result in ownership of anything physical.

Customer Experience Management

The method of creating and responding to interactions with customers in a way that fulfills or surpasses their expectations, aiming to boost satisfaction, loyalty, and support among them.

Internal Marketing

The promotion of a company’s objectives, products, and services to its employees, aiming to align customer and employee satisfaction.

Services Marketing

Marketing practices tailored to promote and sell intangible services, as opposed to tangible products.