Author Question: When calculating the CPI, the Bureau of Labor Statistics A) makes certain to weight the goods and ... (Read 42 times)

iveyjurea · **on:** Jun 30, 2018

When calculating the CPI, the Bureau of Labor Statistics

A) makes certain to weight the goods and services equally so that no one product is over-weighted.
B) weights the price of all goods and services produced in a year within a country's borders.
C) sums the prices of the goods and services in the average urban household consumption basket.
D) weights the price of goods and services in the basket relative to the importance of the average urban household budget.
E) multiplies by 100 the average price of goods and services in the average urban consumer's basket.

Question 2

The working-age population includes

A) people over the age of 16 who are in the Army.
B) employed and unemployed people over the age of 16.
C) those in jails and hospitals.
D) youngsters between the ages of 14 and 16 if they are working at least part time.
E) only employed people over the age of 16.