You Answered You Answered Changes in the CPI overstate the true rate of inflation. Correct Answer Correct Answer 2 / 2 pts Question 26 The formula for calculating the CPI is Correct! Correct! 0 / 2 pts Question 27 Which of the following would be a consequence of substitution bias in the CPI? Businesses would overcompensate employees for inflation when giving cost of living raises.Correct Answer Correct Answer
Social Security payments would not adequately compensate retired workers for inflation. You Answered You Answered
2 / 2 pts Question 28 The base period for CPI calculations is generally 1982-84. In 2005, 50% of households accessed the Internet through a broadband connection that would not have existed in the 1980s. This potential for bias in the CPI is referred to as ________ bias and results in ________. Correct! Correct!
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2 / 2 pts Question 29 The real interest rate equals the nominal interest rate ________ the inflation rate.
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2 / 2 pts Question 30 When actual inflation is less than expected inflation borrowers lose and lenders gain. Correct! Correct! 0 / 5 pts Question 31 The fictional university Dogwarts saw its enrollment increase from 10,548 to 12,825. What was the percentage increase in enrollment?Please round your answer to the nearest two decimal places. Do not include the percentage sign. For example, if you're answer was 48.567% you would answer 48.57. Correct Answer Correct Answer
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0 / 5 pts Question 32 Sam spent 21% of their weekly allowance at the mall. If Sam was given 154, howmuch of their weekly allowance is left?Please round to two decimal places and do not include the dollar sign. For example, if your answer turns out to be $574.2486, you would enter 574.25 32.34 You Answered You Answered
121.66margin of error+/- 0.05 Correct Answer Correct Answer5 / 5 pts Question 33 If consumption is equal to $2,608, investment is equal to $1,996, government purchases are equal to $1,469, exports are equal to $605 and imports are equal to $820. What is the level of GDP?Please round to the nearest whole number and do not include the dollar sign ($).
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