Answer:
average of the goods and services purchased by "urban consumers."
Explanation:
The US Bureau of Labor Statistics determines the CPI by calculating the weighted average of a basket of goods. More than 24,000 people are interviewed each year in order to elaborate this index, and the sample is taken from the US Census and includes people that live or work in urban areas around the country.
Answer:
A free enterprise economy has five important characteristics. They are: economic freedom, voluntary (willing) exchange, private property rights, the profit motive, and competition.
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Answer:
manpower
Explanation:
the organization needs the right individuals with said skills to tackle the incident properly
Answer:
Apportion
Explanation:
Apportionment method is also known as analogous estimating, uses historical data of past projects that are relatively standard to allocate duration and costs to various segments of the current project.
This is performed by assigning percentages of the total planned duration or costs to each segment .
Answer:
The price of the 1975 golf ball in 2005 is $0.55
Explanation:
In this question, we are asked to calculate the price of a golf ball in the year 2005 which was bought in the year 1975.
Before we begin to answer, we have been seeing CPI, what could this mean?
The term CPI stands for consumer price index. It refers simply to the change in price of a particular goods or services over a specific period of time.
Now, we mathematically propose a solution to the problem as follows;
We identify the following;
CPI in 1975 = 52.3
CPI in 2005 = 191.3
We now calculate the CPI change between the years. This can be done by dividing the CPI in the year 1975 by the CPI in the year 2005. Mathematically;
CPI change between years = CPI IN 1975/ CPI in 2005
= 52.3/191.3
= 0.273
Now, we proceed to calculate the price of the 1975 ball in 2005.
Mathematically;
A 1975 golf ball’s cost in 2005 = CPI change * price of golf ball in 2005
= 0.273 * 2
= $0.55
