Imagine that the government statisticians who calculate the inflation rate have been updating the basic basket of
Question:
Imagine that the government statisticians who calculate the inflation rate have been updating the basic basket of goods once every 10 years, but now they decide to update it every five years. How will this change affect the amount of substitution bias and quality/new goods bias?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (3 reviews)
When government statisticians update the basic basket of goods more frequently shifting from once ev...View the full answer
Answered By
Ankit Mahajan
I am an electrical engineering graduate from Thapar institute of engineering and technology.
Qualified exams - GATE 2019,2020.
CAT EXAM 2021- 91.4 percentile
SSC EXAMS- 2019,2020,2021
AFCAT EXAM- 2019,2020,2021
I want to share my knowledge with other people so that they can achieve the same.
I have strong hold Mathematics, Electrical engineering and all the subjects related.
Just give me a problem and I will give you the solution of it.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Write mission and vision statements for four companies of youre choosing. Companies like star bucks, southwest airlines, Costco, etc., are examples of ones that have developed effective mission and...
-
Hardwood Inc. produces wooden crates used for shipping products by ocean liner. In 2011, Hardwood incurred the following costs. Wood used in crate production ..............$54,000 Nails (considered...
-
Describe how a company could use a blog and podcasting.
-
Gordon Company signed a note payable on November 20. Gordon has a December 31 year-end. It paid the note, including interest, on the maturity date, February 20. What accounts did Gordon debit and...
-
Sherpers carries a special French wine that is popular with wine enthusiasts. Below is information relating to Sherpers purchases of this wine during September. During the same month, 124 bottles...
-
How do you find P, May I have step by step using table. I got the t- value already. A. Obtain value of P B. Decide whether to reject or fail to reject the null hypothesis. -- Ho because the P value...
-
Describe a situation, either a government policy situation, an economic problem, or a private sector situation, where using the CPI to convert from nominal to real would be more appropriate than...
-
Why is the GDP deflator not an accurate measure of inflation as it impacts a household?
-
A firm is converting its accrual revenues to corresponding cash amounts using the direct method. Sales on the income statement are $925,000. Beginning and ending accounts receivable on the balance...
-
The master budget for Lily's Bakery assumes that the bakery will sell 1,000 wedding cakes during 2019. However, Lily had a banner year and actually sold 1,400 wedding cakes. Lily's master budget...
-
I see hundreds of reports come across my desk every day. I'm swamped with phone calls, emails, meetings, briefings on major incidents, and some field work. I having dislike to tell my officers to...
-
Gil ( single , age 2 4 ) is an employee of ABC, Inc., and he receives several fringe benefits and retirement benefits. His employer - provided health insurance plan is considered a high - deductible...
-
Jack submitted his 2 0 2 1 / 2 2 tax return on 1 December 2 0 2 2 . He deliberately omitted to include a new source of income - rental income - of 1 5 , 0 0 0 as he did not think that HMRC would find...
-
Fig.15.38 shows a compound epicyclic gear train in which two sun gears S, and S, are integral with the input shaft X. The arm B, is integral with the output shaft Y. The planet gear P2 revolves on a...
-
Calcium is the most abundant mineral in the human body and has several important functions. Most body calcium is stored in the bones and teeth, where it functions to support their structure....
-
All of the following assets can be depreciated, except: (a) A bulldozer (b) A copper mine (c) A surgical robot (d) A conveyor belt
-
What are expenses that do not vary with the level of sales, such as rent, salaries, utilities, insurance and other operating expenses? A. Fixed costs B. Variable costs C. Balance sheet D. Cash flow...
-
What assesses the prowess of the management and sufficiency of resources to bring the product or idea to market? A. Management analysis B. Operational feasibility analysis C. Financial analysis D....
-
Which of the following identifies competitors and quantifies target customers and/or users in a specific industry? A. Feasibility analysis B. Market analysis C. Financial analysis D. Management...
-
< > Which one of the following costs was incurred in the past and cannot be recouped? Externalities Incremental cash flows Salvage value Sunk cost Opportunity cost
-
consider the following transaction and select the option that matches when revenue is recognized. Transaction: Provided legal services to client to be collected next month. A. Deferral B. Prepayment....
-
La empresa BiblioTEL, provee software de biblioteca para varias instituciones pblicas y privadas del pas. Cuenta con un equipo lder de expertos en operaciones empresariales, tecnologa moderna y...
Study smarter with the SolutionInn App