Answer:
The correct option is b. the CPI has understated the cost of living because of quality improvement bias.
Explanation:
Note: This question is not complete as it does not include the answer options. The answer options are therefor provided before answering the question as follows:
a. The CPI has overstated the cost of living because of income bias.
b. The CPI has understated the cost of living because of quality improvement bias.
c. The CPI has overstated the cost of living because of quality improvement bias.
The explanation of the answer is now provided as follows:
The Consumer Price Index (CPI) can be described as a metric that measures the average change in prices paid for a market basket of consumer goods by urban consumers over time.
Quality improvement bias occurs when price indexes do not incorporate information about good quality over time in addition to their nominal price.
Better and greater speeds and functionalities have become available as a result of advancements in computer chips and improved the lives of consumers, all without incorporating the information in CPI.
Therefore, the correct option is b. the CPI has understated the cost of living because of quality improvement bias.
Efficiency is the ability to produce the result with minimal utilization of resources to get maximum benefits, while effectiveness is the ability to produce a better result.
<h3>
What is Efficiency?</h3>
Efficiency is the ability to work with the least usage of resources in the best possible manner, which means with the minimum usage of resources we get maximum benefits.
Thus, efficiency is the ability to produce the intended result in the best possible manner with the least waste of resources, time, and effort, while effectiveness is the ability to produce the best result that delivers more value or achieves a better outcome.
Learn more about Efficiency here:
brainly.com/question/13828557
#SPJ1
Answer:
<h2>The Text Fill and Text Outline menus might not be active until you start typing in your shape. Select the shape or text box. On the Drawing Tools Format tab, click Text Fill > More Fill Colors. In the Colors box, either click the color you want on the Standard tab, or mix your own color on the Custom tab.</h2>
Explanation:
<h3>i dont need to explain its tecno and art XD</h3>
Answer:
b. Make, $26
Explanation:
Options are <em>"A. Buy, $26. B. Make, $26. C. Buy, $36. D. Make, $36 E. Buy, $40"</em>
<em />
Calculation of total relevant cost
Direct materials $4
Direct labor $12
Overhead $10 ($20 * 50%)
Total relevant cost $26
Since the relevant cost is $26 when making, so the proper decision and the total relevant cost to compare with the $30 purchase price are "Make, $26".