The Following Table Shows the Consumption Categories Used to Compute

question 31

Essay

The following table shows the consumption categories used to compute the consumer price index in a hypothetical economy, their weights as percentages in a typical consumer's total expenditure, and the price ratios relative to the base year.

a) Calculate the consumer price index in Year 1 and Year 2.
b) Calculate the inflation rate in Year 1 and Year 2.
c) Explain how the weights in column 2 were determined. Discuss the meaning of "Price of food."

Analyze the impact of birth order on personality according to Adler.

Evaluate the level of social interest and its implications on personality and adjustment.

Recognize feelings of inferiority and their influence on behavior.

Compare Adler's and Horney's theories in terms of superiority complex, safeguarding tendencies, and neurotic trends.

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Definitions:

Self-serving Bias

The common tendency to attribute one's successes to personal characteristics and failures to external factors.

False Confidence

An unfounded belief in one's abilities or outcomes, which can lead to taking undue risks or making poor decisions.

Glass Ceiling Effect

An invisible barrier limiting career advancement of women and members of visible minorities.

Stereotyping

The oversimplified and generalized perception or judgment of a group of people based on common traits or attributes.