The Price Index Was 170 in the First Year,180 in the Second

question 159

Multiple Choice

The price index was 170 in the first year,180 in the second year,and 195 in the third year.The inflation rate was about

• A)5.6 percent between the first and second years,and 7.7 percent between the second and third years.
• B)5.9 percent between the first and second years,and 8.3 percent between the second and third years.
• C)10 percent between the first and second years,and 15 percent between the second and third years.
• D)80 percent between the first and second years,and 95 percent between the second and third years.

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Definitions:

Controlling Biases

The practice of recognizing and attempting to minimize or eliminate biases in one's judgments and decisions.

Motivation

The process that initiates, guides, and maintains goal-oriented behaviors, driving individuals to pursue specific objectives.

Awareness

The state or ability to perceive, feel, or be conscious of events, objects, or sensory patterns.

Stereotypic Thinking

A type of thinking where individuals assign a fixed, oversimplified set of characteristics to a group without allowing for individual variance or complexity.