When Constructing the Consumer Price Index, the Bureau of Labor

question 132

Multiple Choice

When constructing the consumer price index, the Bureau of Labor Statistics does not do which of the following?

• A)Try to include all the goods and services that the typical consumer buys.
• B)Try to weight the goods and services that the typical consumer buys according to how much consumers buy of each item.
• C)Survey consumers to determine what the typical consumer buys.
• D)Survey sellers to determine what the typical consumer buys.

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Definitions:

Instinctive Drift

The tendency for animals to revert to instinctual behaviors even after learning new behaviors that contradict those instincts.

Food-Washing Behaviour

A learned or instinctual behavior observed in some animal species where they wash their food in water before eating.

Observational Learning

A learning process through which behaviors are acquired by watching and imitating others, also known as modeling.

Superstitious Behaviour

Actions based on irrational beliefs that certain behaviors or rituals can influence unrelated outcomes or events.