At the Onset of the Recent Economic Slowdown,prices at the Grocery

question 150

Multiple Choice

At the onset of the recent economic slowdown,prices at the grocery stores continued to rise.In some cases,products such as milk and bread almost doubled in price.In March 2008,a Boston newspaper reported,"The price of eggs was up 40% and milk was up 26%." Consumers were already being hit with high energy costs,and now their confidence in the economy was further shaken with job cuts and a loss of discretionary income due to increases in food prices.The economy was slowing,but prices were rising,signifying the potential for ___________.

• A)deflation
• B)stagflation
• C)disinflation
• D)equalization

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Definitions:

Piaget's Stages

A theory by Jean Piaget that describes four stages of cognitive development in children: Sensorimotor, Preoperational, Concrete Operational, and Formal Operational stages.

Sensorimotor

Relates to the first stage of Jean Piaget’s theory of cognitive development, where infants learn through interacting with the world through sensory experiences and motor activities.

Cognitive Development

The process by which a person's ability to think, understand, and learn evolves over time from childhood through adulthood.

Jean Piaget

A Swiss psychologist renowned for his pioneering work in child development, particularly his theory of cognitive development.