The Table Below Shows the Current and Base-Year Prices of Different

question 25

Multiple Choice

The table below shows the current and base-year prices of different goods in a market basket. The table shows that the price of the market basket in the current year is _____ higher than the price of the market basket in the base year. 

• A) 100 percent
• B) 50 percent
• C) 1 percent
• D) 200 percent

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Definitions:

Informational

In marketing, this term often relates to messages or media that provide consumers with factual data and details about a product's benefits, features, or usage.

Bandwagon Effect

The tendency for people to adopt certain behaviors, styles, or attitudes simply because others are doing so, often used in marketing to drive product popularity.

Cultural Pressure

The influence exerted by society on individuals to adopt certain behaviors, norms, or practices, often to conform to societal standards.

Dissociative Reference Group

A group with which an individual does not want to be associated or identified.