Answer:
A.overstate; substitution
Explanation:
Consumer Price Index (CPI): is a measure that examines the weighted average of prices of consumer goods and services, such as transportation, food, and medical care. It is calculated by taking the average of the price changes for each item in the predetermined goods. Changes in the CPI are used to assess price changes associated with the cost of living therefore the CPI is used economist for identifying periods of inflation or deflation.
when we say the CPI overstate inflation; it is because of:
Substitution bias (when the price of a product in the consumer basket increases substantially, consumers tend to substitute lower-priced alternatives; Therefore, it tends to overstate inflation due to a lack of accountability
) and;
Quality bias (over time, technological advances increase the life and usefulness of products).
Yes, the definition of customer support is correct
Hope that helps!
B. that promoted social, labor, and economic issues
Answer:
B. the percentage change in the quantity demanded divided by the percentage change in price.
Explanation:
The formula to compute the price elasticity of demand is shown below:
= (Percentage change in quantity demanded ÷ Percentage change in price)
where,
The Percentage change in quantity demanded equals to
= (New quantity - old quantity) ÷ ((New quantity + old quantity)
And, the Percentage change in price equals to
= (New price - old price) ÷ ((New price + old price)
Answer:
Yes, but what is your question?
Explanation:
