When We Compare the Records of the CPI and the PCE

question 58

Multiple Choice

When we compare the records of the CPI and the PCE price index over time,the

• A)two are very different in magnitude.
• B)PCE price index tends to exceed the CPI.
• C)CPI tends to exceed the PCE price index.
• D)two measures are identical.
• E)CPI tends to exceed the PCE price index when inflation is high,and the PCE price index tends to exceed the CPI when inflation is low.

---

Definitions:

Ethical Relativism

The theory that moral principles are not universal but instead vary depending on culture, individual perspective, or societal norms.

Objective Standards

Criteria established by facts or law to make judgments based on unbiased benchmarks or guidelines rather than personal feelings or opinions.

Act Utilitarianism

A form of utilitarianism that evaluates the morality of actions based on the amount of happiness they produce in the outcome.

Ethical Theory

Philosophical thinking about morality, encompassing principles and guidelines that dictate what is right and wrong behavior.