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Which Is Likely to Have the Larger Effect on the CPI

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Essay

Which is likely to have the larger effect on the CPI, a 2 percent increase in the price of food or a 3 percent increase in the price of diamond rings? Explain.


Definitions:

Roll a Die

Rolling a die is a random act that produces an outcome between 1 and 6, each with an equal probability.

Win the Game

Achieving a higher score or meeting the criteria for victory in a competitive activity.

Independent

Free from outside control or influence, able to function or operate on its own.

Bull's-Eye

The center of a target, often denoting a point of perfect accuracy or the achievement of a goal with precision.

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