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 69 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

apple

  • Member
  • Posts: 352
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

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?

There are actually 60 minerals, 16 vitamins, 12 essential amino acids, and three essential fatty acids that your body needs every day.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

A revised phylogenetic tree of flightless birds. A revised phylogenetic tree of flightless birds.
Sequential blending uses a computer to calculate the correct ratio as well as the prescribed order ... Sequential blending uses a computer to calculate the correct ratio as well as the prescribed order ...
Calculate the electron affinity for the formation of the hydride ion from the following ... Calculate the electron affinity for the formation of the hydride ion from the following ...
Calculate ΔG° Calculate ΔG°
Calculate ∆G° Calculate ∆G°
Video: Cortisol (protein catabolism, gluconeogenesis, vasoconstriction & anti-inflammation)

For a complete list of videos, visit our video library