If a Market Basket Was Defined in 2014 and It

question 199

Multiple Choice

If a market basket was defined in 2014 and it cost $10,000 to purchase the items in that basket in 2014, while it cost $12,000 to purchase those identical goods in 2015, then the inflation rate from 2005 to 2006 is

• A)(100-100)/100*100%=0%.
• B)(100-83.3)/100*100%=16.7%.
• C)(120-100)/100*100%=20%.
• D)unknown given this data.

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Definitions:

Laggards

A term used in diffusion of innovation theory to describe individuals or groups that are last to adopt new technologies, products, or innovations, often due to skepticism or traditional values.

Continuous Innovation

The ongoing process of making regular, incremental improvements or updates to products, services, or processes.

Persuasiveness

The ability to convince others to change their beliefs, attitudes, or behaviors through argumentation or appeal.

Compatibility

The degree to which two or more elements are able to exist or work together without conflict.