When Prices Are Rising at a Rate of 3 Percent

question 93

Multiple Choice

When prices are rising at a rate of 3 percent, the cost of products and services would double in ______ years.

• A) 3
• B) 6
• C) 12
• D) 24
• E) 36

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Definitions:

Channel

In communication, a medium through which a message is transmitted from a sender to a receiver.

Group Polarization

The phenomenon whereby a group's prevailing opinions or decisions become more extreme than the individual initial inclinations after group discussion.

Risky Shift

The phenomenon where groups make riskier decisions collectively than individuals would when making decisions alone.

Social Constructionism

The theory that social phenomena develop in social contexts as a result of human interpretation, interaction, and negotiation rather than inherent traits.