Prices of Items Included in the CPI Are

question 37

Multiple Choice

Prices of items included in the CPI are:

• A) averaged with the price of every item weighted equally.
• B) weighted according to amount of the item produced in GDP.
• C) weighted according to quantity of the item purchased by the typical household.
• D) chained to the base year by the year-to-year growth rate of the item.

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Definitions:

Range

In statistics, range refers to the difference between the highest and lowest values in a dataset.

Place Theory

A hearing theory that suggests different areas of the cochlea are activated by different frequencies of sound, enabling us to distinguish pitches.

Basilar Membrane

A membrane in the cochlea of the inner ear that plays a key role in the sense of hearing by vibrating in response to sound and facilitating auditory processing.

Lower Frequency

Refers to sounds or waves that have a lower rate of vibration, and thus a deeper pitch or longer wavelength.