An Example of the New Goods Bias in the CPI

question 433

Multiple Choice

An example of the new goods bias in the CPI is the

• A) decreasing popularity of SUVs as the price of gasoline has risen.
• B) switch from traditional car dealerships to low- cost Internet car buying services.
• C) introduction of higher quality brakes as standard equipment on new cars.
• D) introduction of hybrid automobiles, vehicles that were not made until recently.

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Definitions:

Faith

A strong belief or trust in someone or something often without logical proof.

Employment Rate

The percentage of the labor force that is employed, often used as an indicator of the economic health of a country or region.

Older Workers

Individuals in the workforce who are considered to be nearing or beyond the traditional age of retirement.

Ideal Members

Individuals considered as perfect examples or most suitable embodiments for a specific group, team, or organization due to their attributes or contributions.