I the Largest Component of the Canadian CPI Is Food

question 38

Multiple Choice

i. The largest component of the Canadian CPI is Food. ii. Besides measuring change in the prices of goods and services, the consumer price indexes have a number of other applications. The CPI is used to determine real disposable personal income, deflate sales or other series, find the purchasing power of the dollar and establish cost of living increases.
iii. The concept of real income is sometimes called deflated income or income expressed in constant dollars and the CPI is called the deflator.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) and (ii) are correct statements but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

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Definitions:

Buying Decisions

The process by which individuals or organizations select products or services to purchase, influenced by factors such as needs, desires, and external pressures.

Point-Of-Purchase Display

Marketing materials or advertising placed next to the merchandise it is promoting, typically found in the retail environment.

Sales Promotion

Marketing activities that aim to temporarily increase sales or the visibility of a product or service through incentives or discounts.

Ben & Jerry's

An American ice cream company known for its unique flavors, environmental activism, and social responsibility efforts.