The Consumer Price Index (CPI)

question 100

Multiple Choice

The consumer price index (CPI) :

• A) adjusts for changes in product quality.
• B) includes separate market baskets of goods and services for both base and current years.
• C) includes only goods and services bought by typical urban consumer.
• D) uses current year quantities of goods and services.

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Definitions:

Creative Children

Refers to kids who have the ability to think outside the box and produce new, innovative ideas or things.

Divergent Thinking

A thought process or method used to generate creative ideas by exploring many possible solutions, typically in a spontaneous, free-flowing manner.

Convergent Thinking

A cognitive process where a person employs logical steps to arrive at one correct solution to a problem, opposed to creative or divergent thinking.

Social Norms

The expected standards of behavior within a society or group, guiding how individuals are supposed to act in various situations.