Prices of Finished Imported Goods Are

question 153

Multiple Choice

Prices of finished imported goods are

• A) not included in the CPI because the goods were produced outside the country
• B) not included in the CPI because different countries choose different base periods
• C) not included in the CPI because import prices are not denominated in U.S.dollars
• D) not included in the CPI because most imports are raw materials
• E) included in the CPI

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Definitions:

Ethical Relativism

The belief that morality varies between individuals and cultures and that there are no universal moral principles.

Cultural Relativism

The belief that a person's beliefs, values, and practices should be understood based on that person's own culture, rather than be judged against the criteria of another.

Ethical Absolutism

The ethical belief that there are absolute standards against which moral questions can be judged, and that certain actions are right or wrong regardless of the context of the act.

Individual Relativism

The philosophical idea that ethical beliefs and values are relative to the individual's subjective preferences.