An Example of the New Goods Bias in the CPI

question 302

Multiple Choice

An example of the new goods bias in the CPI is the

• A) introduction of higher quality brakes as standard equipment on new cars.
• B) introduction of hybrid automobiles, vehicles that were not made until recently.
• C) decreasing popularity of SUVs as the price of gasoline has risen.
• D) switch from traditional car dealerships to low-cost Internet car buying services.

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Definitions:

Action Steps

Specific, measurable actions required to achieve a goal, often outlined in planning and project management.

Company-Wide Training

Educational programs designed to improve the skills and knowledge of all employees within an organization, often focusing on new tools, technologies, or methodologies.

Management Function

The activities carried out by managers in an organization to achieve its objectives, including planning, organizing, leading, and controlling.

Human Skill

The ability to work well with others, to communicate effectively, to inspire team members, and to understand and manage personal emotions in a professional context.