If the Cost of a Typical Market Basket Is 400

question 75

Multiple Choice

If the cost of a typical market basket is 400 in 2018, 410 in 2019, and 405 in 2020, then during this period the economy is undergoing:

• A) inflation.
• B) disinflation.
• C) deflation.
• D) hyperinflation.

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Definitions:

Mass Media

Diverse media technologies that reach a large audience via mass communication, including newspapers, television, radio, and the internet.

Business Influence

The impact that companies or industries have on economic policies, consumer behavior, and the market environment.

Observations

The action or process of closely observing or monitoring something or someone.

Hypotheses

Proposed explanations for a phenomenon, meant to be tested through experimentation or observation.