This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The market basket used to calculate the CPI is revised monthly to more accurately depict consumers' ... (Read 67 times)

yoroshambo

  • Hero Member
  • *****
  • Posts: 566
on: Jun 29, 2018
The market basket used to calculate the CPI is revised monthly to more accurately depict consumers' choices. The price data for the CPI are collected every month. Are the previous sentences true or false?
 
  What will be an ideal response?

Question 2

Economic efficiency definitely occurs whenever
 
  A) a firm cannot increase its output without increasing all its inputs.
  B) there are no implicit costs.
  C) the most modern technology is used in the production process.
  D) the firm produces a given output at the least cost.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

frre432

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jun 29, 2018
Answer to Question 1

The first sentence is false and the second is true. The point of the CPI is to determine how the prices of a fixed basket of goods and services change over time, so the CPI basket is revised only infrequently. However, the prices for the goods and services in the basket are collected monthly so that the CPI can be computed monthly.

Answer to Question 2

D


yoroshambo

  • Member
  • Posts: 566
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

skipfourms123

  • Member
  • Posts: 343
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

All adverse reactions are commonly charted in red ink in the patient's record and usually are noted on the front of the chart. Failure to follow correct documentation procedures may result in malpractice lawsuits.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

Human neurons are so small that they require a microscope in order to be seen. However, some neurons can be up to 3 feet long, such as those that extend from the spinal cord to the toes.

A revised phylogenetic tree of flightless birds. A revised phylogenetic tree of flightless birds.
That politics was always a rough business is shown in this cartoon, which shows Lincoln, assisted by That politics was always a rough business is shown in this cartoon, which shows Lincoln, assisted by
How to calculate regular payments or deposits using the annuity formula (Question 2) How to calculate regular payments or deposits using the annuity formula (Question 2)
How to calculate monthly payments at varying amortization periods (Question 2) How to calculate monthly payments at varying amortization periods (Question 2)
How to calculate the mean for grouped data How to calculate the mean for grouped data
Calculate ΔG° Calculate ΔG°
Video: Chromosome structural organization/ Mechanisms for chromosome movement Animation

For a complete list of videos, visit our video library