Answer:
A-Come up with a basket of goods bought by a typical consumer.
D-Find out the prices of the different goods.
C-Calculate how much the basket costs in each period.
B-Convert the cost of a basket to an index number.
Explanation: A Consumer Price Index is basically used to measure changes in the price level of a weighted average market basket of consumer goods and services purchased by households. It is used to measure inflation. Four steps are required when measuring the Consumer price index of an household. They include ;
Coming up with a list of items or good basket purchased by a consumer. Once that has been done, the prices of the separate items and cost of items at different times or period then convert.
Answer:d.Quantity demanded goes up when price falls because lower prices increase consumer purchasing power, and because some consumers of substitute goods switch.
Explanation:
Causality refers to the cause and the effect which means when a particular situation occurs it results to the effect that is observed, there exist a relationship between variables such that when one variable changes it causes the change on the other variable.
For example in this case when price falls it results to an increase in consumer purchasing power and that increases the demand.
So the cause of price falling increases the effect on purchasing product by the consumers.
Answer: For America, the gun is a story of innovation, power, violence, character, and freedom. ... From Samuel Colt's early entrepreneurism to the successful firearms technology that helped make the United States a superpower, the gun is inextricably tied to our exceptional rise.
Explanation:
Is government important in economics? yes
