Answer:
a. Overstates Inflation.
In the case of Mary and Bob, the CPI would have already increased but in this case the price of the minivan increased as well. This will overstate inflation because it will not measure the general rise in price alone (inflation), it will also measure the rise in price as a result of the new minivan having better features.
b. Understated Inflation
Donna's case represents an understated inflation because the quantity shrank yet the price stayed the same. This means that the price is now buying less quantity than it used to which is inflation because more dollars are now required to buy the previous amount. This was not however recorded as there was no change in price.
c. Overstates Inflation
In the case of Zach, the inflation will be overstated because Zach is no longer buying bagels and is now buying muffins so continuing to use bagels as a representative good in the basket of goods used to calculate CPI would be overstating it.
d. Accurate representation of Inflation
In Chris's case, the increase in the price of the same shoe over the years has been because of a general rise in prices and not because it is a different model. It is the same shoe and its price is rising generally so this is an accurate depiction of inflation.
It's best to use process tailoring when they are facing difficulties with the current agile projects strategy or they want to create improvement by trying new things.
Through process tailoring, management could adjust current strategy with unique problems/situation that faced by the organization in order to increase the efficiency.
Answer:
O social and economic indicators
Explanation:
The Human Development Index (HDI) is a statistic used to measure a country's achievements in different aspects of its social and economic welfare. The united nations developed HDI to evaluate different dimensions of human development in a country. Dimensions of human development refer to people's health, educational level, and standards of living.
The HDI makes comparisons between countries by analyzing components such as average annual income and educational achievements.
This is an example of variation. The
coefficient of variation, also referred to as the Spearman coefficient of
variation, is a statistical measure that informs us about the relative dispersion
of a data set. Its calculation is obtained by dividing the standard deviation<span> between
the absolute value of the average of the set and it is usually expressed as a
percentage for its better understanding.</span>
Answer:
b.both parties are made better off.
Explanation:
People voluntary to trade when they will better off after the trade. Since individual or nation has different proficiency and endowment resources, the ability to produce some product will be different for each country.
For example, German people are skillful of making beer. They have efficient production. Whereas France have expertise in making perfume. It is reasonable for German people to buy perfume from France since it is cheaper and has better quality than making it themselves. On the other hand, if french want to drink beer, it is cheaper to buy from Germany. Thus, both Germany and France will be better of after the trade.
