Oranges Become More Expensive in 2008 at Ukrop's in Charlottesville,Virginia

question 43

Multiple Choice

Oranges become more expensive in 2008 at Ukrop's in Charlottesville,Virginia.This means

• A) the consumer price index (CPI)will rise in 2008 if,and only if,Charlottesville is one of the 38 indexed geographic locations and oranges are one of the 8,000 goods included in the CPI.
• B) the consumer price index (CPI)will almost certainly rise in 2008,even if Charlottesville is not included,as long as oranges are included and become more expensive on average at the other indexed locations.
• C) the consumer price index (CPI)will likely fall if the average weighted price of oranges increases in the United States and the price of oranges at Ukrop's makes almost no difference in the CPI.
• D) the consumer price index (CPI)might rise or fall and the price of oranges at Ukrop's could make a very small difference in the CPI if oranges at Ukrop's are included.However,oranges would be a relatively small portion of the entire CPI,if they are included in it at all.
• E) orange prices are never included in the consumer price index (CPI)because the creator of the CPI,Milton Marquis,did not like oranges.

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Definitions:

Measurement System

Refers to a set of instruments, standards, and procedures used to quantify physical quantities, properties, or phenomena.

Performance Based-Reward Systems

Reward mechanisms that tie compensation or recognition to the achievement of specific performance criteria, intended to motivate and incentivize high levels of performance.

Flexible Benefit Plans

Employee benefit programs that allow individuals to choose from a range of benefit options that best suit their personal or family needs.

Group Rates

Special discounted prices offered to a defined group of people, typically for services or admissions.