ECONOMICS
INFLATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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some of the consumer goods but none of the services provided in a given year.
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about 80, 000 goods and services each quarter.
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only the prices of the goods and services whose prices have changed.
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about 80, 000 consumer goods and services each month.
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all of the goods and services produced in a given year.
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Detailed explanation-1: -This results in a Cost Performance Indexes CPI and SPI of 0.8 or 80% and indicates that for each week the resource is allocated at 40 hours, task to which the resource is allocated will slip by one day and an additional days labour costs will be incurred.
Detailed explanation-2: -The Consumer Price Index (CPI) is a measure of the average change overtime in the prices paid by urban consumers for a market basket of consumer goods and services.
Detailed explanation-3: -Currently, the reference base for most CPI indexes is 1982-84=100 but some indexes have other references bases. The reference base years refer to the period in which the index is set to 100.0. In addition, expenditure weights are updated every two years to keep the CPI current with changing consumer preferences.
Detailed explanation-4: -How Is the CPI Calculated? The Bureau of Labor Statistics samples 80, 000 prices monthly to calculate the CPI, weighing the index for each product or service in proportion to its share of recent consumer spending to calculate the overall change in prices.