Suppose the Base Year of the CPI Is 2010, and the CPI

question 28

Multiple Choice

Suppose the base year of the CPI is 2010, and the CPI calculated for 2012 was 102. What is the correct interpretation of this number?

• A) Average prices in the economy have increased by 102 % since 2010.
• B) Average prices in the economy have increased by 1.9 % since 2010.
• C) The cost of living for a typical consumer is 2 % higher than it was in 2010.
• D) The average goods of all consumers has risen an average of 2 % from 2010 to 2012.

Identify and differentiate between various recording techniques and their applications.

Understand the impact of observer beliefs and expectations on behavior recording (placebo effect).

Acknowledge the existence and impact of observer's attention requirements for accurate behavior recording methodologies.

Recognize the effects of novelty and observation on individuals' performance (Hawthorne effect).

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Definitions:

Congressional Authority

The powers granted to the United States Congress by the Constitution, including making laws, declaring war, and controlling federal spending.

Articles of Confederation

The first constitution of the United States, ratified in 1781, which established a confederation of states with a weak central government, leading to its replacement by the U.S. Constitution in 1789.

National Policy

A strategic plan or framework adopted by a country's government to guide decisions and achieve rational outcomes.

Congress

The national legislative body of the United States, consisting of two houses: the Senate and the House of Representatives.