The Price of a Basket of Goods in 2000 Was

question 67

Multiple Choice

The price of a basket of goods in 2000 was $500.If the same basket cost $600 in 2002,identify the correct statement from the following.

• A)The price index in 2002 must have been a 100 points higher than in 2000.
• B)The price increase between 2000 and 2002 was 10%.
• C)If 2000 is considered as the base year,then the price index in 2002 must be 120.
• D)If 2002 is considered the base year,then the price index in 2000 must have been 70.

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Definitions:

Cultural Hybrids

The blending of elements from different cultures to create new, hybrid identities or practices.

Cultural Imperialism

The dominance of one culture over others, often through mass media and consumer culture, leading to the erosion of local cultures and identities.

Transnational Expansion

The growth of an organization or movement beyond its original national boundaries to encompass participation or influence in multiple countries.

Benjamin Barber

An American political theorist known for his work on democracy and civic participation, particularly in the context of globalization.