Inflation Rates Over the Last 40 Years Have Generally

question 69

Multiple Choice

Inflation rates over the last 40 years have generally:

• A) decreased around the world.
• B) increased around the world.
• C) unchanged for developing nations and decreased for developed nations.
• D) decreased for developing nations and increased for developed nations.

---

Definitions:

Internal Failure Cost

Costs associated with defects found before the product is delivered to the customer, part of Quality Costs.

External Failure Cost

Costs incurred when a product fails to meet quality standards after being delivered to the customer, including returns, repairs, and warranty claims.

Appraisal Cost

The cost associated with evaluating or inspecting products or materials to ensure they meet the necessary quality standards.

Prevention Cost

Costs incurred to prevent defects in products or services, part of Quality Costs.