An Example of the New Goods Bias in the CPI

question 15

Multiple Choice

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

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

---

Definitions:

Open Communicators

Individuals or entities that engage in transparent, honest, and straightforward exchange of information without withholding.

Human Relations

The study and management of how individuals and groups interact within an organization to improve morale and productivity.

Structured Problems

Problems that are well-defined, with clear goals and known solutions.

Information Needs

The data and knowledge individuals require to satisfy a particular objective or to make informed decisions.