If the Price Index Is Now 120, It Means

question 29

Multiple Choice

If the price index is now 120, it means:

• A)​prices are 120 percent higher than in the base year.
• B)​prices are 20 percent higher than in the base year.
• C)​prices are 1.2 percent higher than in the base year.
• D)​nominal GDP will be less than real GDP.

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Definitions:

Uncertainty Avoidance

A cultural dimension describing the extent to which a society tolerates ambiguity and uncertainty, favoring clear rules and beliefs.

Cultural Dimensions

Frameworks or models that describe the effects of a society's culture on the values of its members, and how these values relate to behavior.

Social Norms

Shared standards of behavior considered acceptable by a group or society.

Leading In Crisis

The practice of guiding and supporting an organization through times of extreme, tumultuous, and often unexpected challenges or dangers.