02_Pbm Set_1819s2 (1).docx - The Hang Seng University of Hong Kong ECO 1002 – Business Economics 2 Summer Term 2018-19 Topic 2 – Measuring the Cost

02_Pbm Set_1819s2 (1).docx - The Hang Seng University of...

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The Hang Seng University of Hong Kong ECO 1002 – Business Economics 2 Summer Term 2018-19 Topic 2 – Measuring the Cost of Living Problem Set Multiple Choice Questions 1. To calculate the CPI, the statistics department uses a.the prices of all goods and services produced domestically.b.the prices of all final goods and services.c.the prices of all consumer goods.d.the prices of some consumer goods. 2. The consumer price index is used to monitor changes in the 3. When the consumer price index falls, the typical family
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