Tofu becomes more expensive in 2008 at Safeway/Vons in Laguna Nigel,California.This means
A) the consumer price index (CPI) will rise in 2008 if,and only if,Laguna Nigel is one of the considered 38 geographic locations and tofu is one of the 8,000 goods included in the CPI.
B) the consumer price index (CPI) will almost certainly rise in 2008,even if Laguna Nigel is not included in the index,as long as tofu is included and becomes more expensive on average at the other locations.
C) the consumer price index (CPI) will likely fall (in 2008) if the average weighted price of tofu increases in the United States and the price of tofu at Safeway/Vons makes almost no difference in the CPI.
D) the consumer price index (CPI) might rise or fall (in 2008) and the price of tofu at Safeway/Vons could make a very small difference in the CPI if tofu at Safeway/Vons is included in the index.But because tofu is a relatively large portion of the entire CPI,it is most likely the CPI will rise.
E) tofu,even if included in the consumer price index (CPI) in 2008,would make a small difference on the average weighted price of food and beverages.Food and beverages only constitute a small portion of the CPI,and hence,this would be unlikely to affect the overall CPI by any significant amount.
Correct Answer:
Verified
Q17: Education typically composes about _ of the
Q18: The Bureau of Labor Statistics releases consumer
Q19: Typically,the largest percentage category in the consumer
Q20: Inflation occurs when
A) all prices in the
Q21: If everyone buys the same goods every
Q23: Oranges become more expensive in 2008 at
Q24: Based on the weight of the consumer
Q25: If 51 percent of all goods in
Q26: According to the consumer price index (CPI),in
Q27: What is the difference between the consumer
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents