ZuoTi.Pro
Question

In recent years, there have been increases in the size of golf club drivers and the...

In recent years, there have been increases in the size of golf club drivers and the methods and materials used for making them have improved. Which problem in the construction of the CPI is this change in drivers most relevant to?

a.

substitution bias

b.

introduction of new goods

c.

unmeasured quality change

d.

income bias
business   economics   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

The bias due to change in method and materials is related to unmeasured quality change, hence the price change is due to the change in quality however CPI measured it as inflation. Hence option c is correct

0 0
Add a comment
Know the answer?
Add Answer to:
In recent years, there have been increases in the size of golf club drivers and the...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • Scenario 6-1 Grant Smith was a doctor. In 1944, he made $12,000. His daughter, Lisa Smith,...

    Scenario 6-1 Grant Smith was a doctor. In 1944, he made $12,000. His daughter, Lisa Smith, is also a doctor. Last year she made $275,000. The price index in 1944 was 17.6 and the price index last ye was 200 Refer to Scenario 6-1. What is Lisa's income in 1944 dollars? a. $15,667 O b. $24,200 O c. $17,401 O d. $19,322 O In recent years, there have been increases in the size of golf club drivers and the methods...

  • Suppose the price of thes e respond by bumer e The consumer price reflects this price...

    Suppose the price of thes e respond by bumer e The consumer price reflects this price increase accurately understates the price increase due to the so-called income bus overstates the price increase due to the so-called incomebas overstates the price increase due to the so-called substitution bias QUESTION 15 Laura bought word processing software in 2005 for 550. Laura's twin brother, Laurence, buys an upgrade of the same software in 2006 for $50. What problem in the construction of the...

  • Keflavik Paper Company In recent years, Keflavik Paper Company has been having problems with its project...

    Keflavik Paper Company In recent years, Keflavik Paper Company has been having problems with its project management process. A number of commercial projects, for example, have come in late and well over budget, and product performance has been inconsistent. A comprehensive analysis of the process has traced many of the problems back to faulty project selection methods. Keflavik is a medium-sized corporation that manufactures a variety of paper products, including specialty papers and the coated papers used in the photography...

  • QUESTION 9. In recent years, it has been suggested that both China and the US have...

    QUESTION 9. In recent years, it has been suggested that both China and the US have engaged in currency manipulation or ‘competitive devaluations’. All else the same, from this we can conclude: A.  Chinese goods will be less expensive in US markets in the short-run, but US goods will be more expensive in China. B.  US goods will be less expensive in China in the short-run, but Chinese goods will be more expensive in the US. C. Chinese and US made goods...

  • As Managerial Accountant of the company, you are well aware that Olsen Industries, Inc. has been...

    As Managerial Accountant of the company, you are well aware that Olsen Industries, Inc. has been in the business of crafting high-quality wooden desks for nearly 30 years. As CEO of the company, I am considering ways in which we might increase production efficiency in order to boost our bottom line and enable expansion into new product lines. One change I am considering is the movement from our current labor-intensive process of desk construction to an automated process that will...

  • Imagine you work for a real estate developer. Three years ago, the developer spent $50 million on a plot of land, which is now valued at $60 million. However, the building project has been held up in...

    Imagine you work for a real estate developer. Three years ago, the developer spent $50 million on a plot of land, which is now valued at $60 million. However, the building project has been held up in red tape until now, and the company has paid $3 million in interest on its initial loans. Three years ago they thought they could build 100 condos for a total of $30 million and sell them for a total of $100 million. Now,...

  • 1. Production Labor Sourcing for Supply Chain Management* Over 75 percent of U.S. manufacturers have been reported to o...

    1. Production Labor Sourcing for Supply Chain Management* Over 75 percent of U.S. manufacturers have been reported to outsource some of their business functions. A shift in offshore outsourcing has returned some business activi- ties to the United States even as cost reduction pressure still challenges most U.S businesses. Brook Medical Supplies (BMS), a manufacturer of medical supplies and ambulatory kits, recently ended outsourcing operations overseas as a competitive mea- sure to improve quality and reduce costs. BMS instead selected...

  • How would you respond to this post? Sunk costs are costs that have been incurred previously...

    How would you respond to this post? Sunk costs are costs that have been incurred previously and cannot be retrieved; therefore, they are irrelevant, meaning that the costs will be incurred regardless of the decision to be made (Douglas, 2012). Most fixed costs are sunk costs unless the asset can be sold to someone else; however, most times, the item is sold at a lower price than the purchase price or historical cost, which is known as the salvage value....

  • The Arlington Visiting Caregiver Clinic has been coasting under the longtime management team, since about 1992....

    The Arlington Visiting Caregiver Clinic has been coasting under the longtime management team, since about 1992. The clinic sells serves to homebound persons, including nurses’ aids, housekeepers, meal preparation and other similar services designed to assist the frail elders to stay in their homes. Performance is shown in the table. The clinic operates in a small city of 100,000 people, dominated by retail employment in small businesses that serve the surrounding rural communities. Two somewhat smaller providers serve the area,...

  • summarise with in-text citations: 1. Introduction Human origins and the extinction of archaic populations have been...

    summarise with in-text citations: 1. Introduction Human origins and the extinction of archaic populations have been the subject of intense debate in recent decades (e.g., Stringer and Andrews, 1988; Wolpoff, 1989; Brauer, 1992; Harpending et al., 1993; Lahr and Foley, 1998). Many hypotheses have been proposed for the extinction of such populations. Among the latter, research has focussed primarily on Neanderthals (e.g., Flores, 1998; Finlayson, 2004; Horan et al., 2005; Finlayson et al., 2006). The Neanderthal extinction took place mainly...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT