Assume That the Base Period for CPI Calculations Is 1980

question 20

Multiple Choice

Assume that the base period for CPI calculations is 1980. In Australia in 2016, around 30% of people accessed the Internet through a broadband connection that did not exist in the 1980s. This potential for bias in the CPI is referred to as ________ bias and results in ________.

• A)outlet; the CPI underestimating the true change in the cost of living
• B)new product; the CPI overestimating the true change in the cost of living
• C)outlet; the CPI overestimating the true change in the cost of living
• D)net product; the CPI underestimating the true change in the cost of living

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Definitions:

Orbitals

Equations detailing the wave-like properties of electrons surrounding an atom.

Orbitals

Mathematical equations that represent the wave-like properties of electrons within an atom.

Electrons

Subatomic particles with a negative electric charge, found in all atoms and acting as the primary carrier of electricity in solids.

Lewis Structure

A representation of molecules showing all the valence electrons and highlighting the bonding between atoms.