Author Question: Which of these does not apply to the Consumer Price Index (CPI)? a. The CPI measures changes in the ... (Read 231 times)

2125004343 · **on:** Jul 24, 2018

Which of these does not apply to the Consumer Price Index (CPI)?
a. The CPI measures changes in the cost of a market basket of goods and services that a typical consumer would be likely to purchase.
b. The CPI is supposed to measure the changing cost of maintaining the same standard of living that existed during the base period.
c. The CPI is a complete cost-of-living index.
d. All of the above apply to the CPI.

Question 2

Suppose Joe Alumni notices that the cost of football tickets increased from 20 per game in 1980 (when he graduated) to 50 dollars per game in 2004 . The cost of a hot dog and a coke (his typical game food) has also increased, from 3 in 1980 to 6.50 in 2004 . And a program costing 2 in 1980 cost 6 in 2004 (he buys one every game). If each of these items is weighted equally (since he buys one of each item per game), what is Joe Alumni's football game price index for a single football game?

zenzy · **Reply #1 on:** Jul 24, 2018

Answer to Question 1

C

Answer to Question 2

250; THE ELEMENTS OF THE FOOTBALL GAME EXPERIENCE IN 2004 COST 250 OF WHAT THEY COST WHEN HE GRADUATED IN 1980.