Which of the Following Is the Most Accurate Statement About

question 99

Multiple Choice

Which of the following is the most accurate statement about the effects of quality change on the CPI?

• A)Even though the BLS adjusts the prices of products in the CPI basket when the quality of the products change, changes in quality are still a problem because quality is so hard to measure.
• B)Because the BLS adjusts the prices of products in the CPI basket when the quality of the products change, changes in quality are no longer a problem for the CPI.
• C)The BLS does not adjust the CPI for quality changes.
• D)Most economists believe that changes in the quality of goods included in the CPI basket do not bias the CPI as a measure of the cost of living.

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Definitions:

Fixed Mindset

Viewing one’s characteristics as enduring and unchangeable.

Learned Helplessness Orientation

A psychological condition where an individual believes they have no control over the outcome of situations, often resulting from repeated failures.

Mastery Orientation

An approach to tasks and challenges with a focus on learning, growth, and development of competency.

Adaptive Behavior

Adjustments or changes in behavior that enable a person to meet environmental demands or to cope with changes in the environment.