In 1986,an Apple IIe Computer with 65 Kilobytes of Memory

question 144

Multiple Choice

In 1986,an Apple IIe computer with 65 kilobytes of memory cost around $1,500.Today,a $1,500 iMac computer (also made by Apple) comes with 8 gigabytes of memory.This illustrates the potential for what kind of bias in CPI calculations?

• A)new product bias
• B)increase in quality bias
• C)substitution bias
• D)outlet bias

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Definitions:

Tradable Pollution Rights

An environmental policy approach allowing companies to buy or sell the right to emit a certain amount of pollutants, aiming to reduce overall emissions cost-effectively.

International Competition

Involves the rivalry between entities from different countries in various fields such as sports, business, technology, and education, aiming to establish supremacy or achieve a particular goal on a global scale.

Subsidies

Financial support provided by governments to organizations, businesses, or individuals, often to support economic activities deemed beneficial or necessary.

Basic Economic Needs

Fundamental requirements including food, shelter, and clothing that must be met to sustain life and health.