If the Total Expenditures of a Typical Family Equaled $40,000

question 81

Multiple Choice

If the total expenditures of a typical family equaled $40,000 per year in 2015 and the exact same basket of goods and services cost $45,000 in the year 2017, the family's cost of living:

• A)increased by 11.1 percent.
• B)decreased by 11.1 percent.
• C)decreased by 12.5 percent.
• D)increased by 12.5 percent.

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Definitions:

Customize

The act of modifying or building a product or service according to the customer's individual preferences or needs.

Sales Presentation

A pitch or demonstration given to potential customers to persuade them to purchase a product or service.

Body Language

Non-verbal communication through gestures, postures, and facial expressions that convey messages or emotions.

Purchase Decision

The process that leads a consumer to buy a product or service, influenced by factors such as marketing, personal preferences, and socioeconomic status.