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24 January, 14:14

Which of the following, if true, would illustrate why price indexes such as the CSPI might overstate inflation in the cost of going to college? Check all that apply. Professors required each student to buy 10 notebooks, regardless of the price. The quality and design of calculators improved dramatically from 2014 to 2016. For example, calculators made in 2016 accept memory cards, whereas those made in 2014 do not, but this quality change is hard to measure. A new, safe method of memory enhancement became available for purchase. As the price of textbooks increased, more and more students turned to the used-book market or chose not to buy textbooks at all, instead using the copies on reserve in the library.

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  1. 24 January, 17:53
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    Answer: The quality and design of calculators improved dramatically from 2014 to 2016.

    A new, safe method of memory enhancement became available for purchase.

    As the price of textbooks increased, more and more students turned to the used-book market or chose not to buy textbooks at all, instead using the copies on reserve in the library.

    Explanation: If textbook price increases, it might overstate the inflation in cost of going to college.

    A new safe memory enhancement will be costly because of it's superior quality and technological progress.

    Similarly, new calculator will also be improved and superior.

    Thus, the survey will reflect higher prices,
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