When a Good Gets Better from One Year to the Next,the

question 11

Multiple Choice

When a good gets better from one year to the next,the CPI has a what is called

• A)new goods bias.
• B)quality change bias.
• C)commodity substitution bias.
• D)outlet substitution bias.
• E)magnitude of change bias.

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Definitions:

Core Nations

Countries that dominate global trade and economics, often through technological advancement and wealth.

Peripheral Countries

Nations that are less developed than the semi-peripheral and core countries, often characterized by low levels of industrialization, and significant economic dependence on core countries.

World Systems Theory

A framework for understanding the historical and contemporary social structures of global inequality, delineating countries as core, periphery, or semi-periphery.

Modernization Theory

A theory in sociology that suggests that societies progress from traditional to modern states through processes like industrialization and democratization, improving living standards and social norms.