The Base Period for CPI Calculations Is Generally 2002

question 173

Multiple Choice

The base period for CPI calculations is generally 2002.In 2014, 55% of Canadians had a smartphone, but in 2002 almost no one had a smartphone.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)new product; the CPI underestimating the true change in the cost of living
• E)substitution; the CPI underestimating the true change in the cost of living

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Definitions:

Distortions in Thinking

Cognitive distortions are irrational or exaggerated thought patterns that contribute to emotional distress and mental health issues.

Self-help Group

A voluntary association of individuals sharing a common desire to overcome personal problems or improve their well-being through mutual support and understanding.

Stressful Situations

Refers to scenarios or conditions perceived as threatening or demanding, which often trigger physical and emotional responses.

Assertiveness Training

Psychoeducational programs designed to help individuals learn to communicate their needs and desires more effectively and respectfully.