Assume That Consumers Consider Rice and Potatoes to Be Substitutes,so

question 62

Multiple Choice

Assume that consumers consider rice and potatoes to be substitutes,so that when the price of rice rises,consumers purchase less rice and more potatoes.When the CPI is computed following the increase in the price of rice,it takes into account

• A)the increase in the price of rice.
• B)the decrease in the quantity of rice purchased and the increase in the quantity of potatoes purchased.
• C)Both (a)and (b)are correct.
• D)None of the above is correct.

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Definitions:

Basic Mathematical Skills

entail fundamental mathematics abilities and knowledge, such as addition, subtraction, multiplication, and division, necessary for daily functions and higher math learning.

Instructional Discourse

The structured communication or dialogue that takes place within an educational setting, aiming to facilitate learning and understanding of complex concepts.

Evaluation

The systematic assessment of a program, process, intervention, or system to determine its effectiveness, efficiency, impact, or quality.

Conversation

The exchange of thoughts, opinions, or information between two or more people, typically involving verbal communication.