One Improvement of the Chained Consumer Price Index (CPI)over the Traditional

question 173

Multiple Choice

One improvement of the chained consumer price index (CPI) over the traditional CPI is that the

• A) chained CPI more quickly takes into account new goods.
• B) chained CPI accounts for substitution between goods.
• C) chained CPI is "progressive," whereas the traditional CPI is "regressive."
• D) traditional CPI accounts only for the prices of goods,whereas,the chained CPI accounts for the prices of services,as well.
• E) chained CPI more easily accounts for deflation.

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Definitions:

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A graphical representation showing how an increase in learning comes from greater experience or the reduction of errors over time with repeated tasks.

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The initial instance or model of a product or system that serves as a prototype or benchmark for subsequent units.

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