A widely acknowledged problem with using the consumer price index as a measure of the cost of living is that it fails to account for the introduction of new goods.
More about consumer price index and its problem-
- A more accurate indicator of a nation's standard of living than per capita GDP is the consumer price index or CPI.
- It is based on the total cost of a fixed basket of goods and services purchased by an average customer in comparison to the cost of the same basket in a base year.
- The CPI can get a precise assessment of the cost of living by including a wide range of thousands of items and services with the set basket.
- It's crucial to keep in mind that the CPI is an index number or a percentage change from the base year rather than a monetary value like the GDP.
- Because CPI is based on a fixed basket of products, the CPI does not provide an entirely accurate measure of the cost of living, despite being a convenient approach to calculate the cost of living and the relative price level over time.
- The bias against substitution, the introduction of new products, and quality variations are three issues with the CPI that should be mentioned.
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The netcraft secure survey in 2013 indicated an increase of over 3 times the number of websites it reported in 2010. It has tripled since 2010, 3 years ago.
how each of these "w"? im guessing it means work. and three weapons from then that are "new"? are:
Rifles. All nations used more than one type of firearm during the First World War. The rifles most commonly used by the major combatants were, among the Allies, the Lee-Enfield .303 (Britain and Commonwealth), Lebel and Berthier 8mm (France), Mannlicher–Carcano M1891, 6.5mm (Italy), Mosin–Nagant M1891 7.62 (Russia), and Springfield 1903 .30–06 (USA). The Central Powers employed Steyr–Mannlicher M95 (Austria-Hungary and Bulgaria), Mauser M98G 7.92mm (Germany), and Mauser M1877 7.65mm (Turkey). The American Springfield used a bolt-action design that so closely copied Mauser’s M1989 that the US Government had to pay a licensing fee to Mauser, a practice that continued until America entered the war.
Machine guns. Most machine guns of World War 1 were based on Hiram Maxim’s 1884 design. They had a sustained fire of 450–600 rounds per minute, allowing defenders to cut down attacking waves of enemy troops like a scythe cutting wheat. There was some speculation that the machine gun would completely replace the rifle. Contrary to popular belief, machine guns were not the most lethal weapon of the Great War. That dubious distinction goes to the artillery.
Flamethrowers. Reports of infantry using some sort of flame-throwing device can be found as far back as ancient China. During America’s Civil War some Southern newspapers claimed Abraham Lincoln had observed a test of such a weapon. But the first recorded use of hand-held flamethrowers in combat was on February 26, 1915, when the Germans deployed the weapon at Malancourt, near Verdun. Tanks carried on a man’s back used nitrogen pressure to spray fuel oil, which was ignited as it left the muzzle of a small, hand-directed pipe. Over the course of the war, Germany utilized 3,000 Flammenwerfer troops; over 650 flamethrower attacks were made. The British and French both developed flame-throwing weapons but did not make such extensive use of them.
there are many more, but here are 3 i found from a trustworthy source!
Answer:
I used an excel spreadsheet to record this transactions on an accounting equation.
Practice Makes Perfect, Inc.
Income Statement
For the month ended July 31, 202x
Revenues $2,000
Expenses:
- Advertising expense $500
- Rent expense $1,000
- Wages expense $1,000
- Supplies expense $300
- Depreciation expense $750
- Interest expense $417 <u> ($3,967)</u>
Net income ($1,967)
Practice Makes Perfect, Inc.
Balance Sheet
For the month ended July 31, 202x
Assets:
- Cash $99,783
- Accounts receivables $1,800
- Supplies $1,700
- Pianos $47,250
Total assets $150,533
Liabilities:
- Accounts payable $2,500
- Notes payable $50,000
Total liabilities $52,500
Stockholders' equity
- Common stock $100,000
- Retained earnings ($1,967)
Total stockholders' equity $98,033
Total liabilities + equity $150,533
