Chicken becomes more expensive in 2008 at Wegmans in State College, Pennsylvania. This means:

a. the consumer price index (CPI) will rise in 2008 if, and only if, State College is one of the 38 geographic locations and chickens are one of the 8,000 goods included in the CPI.
b. the consumer price index (CPI) will almost certainly rise in 2008, even if State College is not included, as long as chicken is included and becomes more expensive on average at the indexed locations.
c. the consumer price index (CPI) will likely fall if the average weighted price of chicken increases in the United States and the price of chicken at Wegmans makes almost no difference in the CPI.
d. the consumer price index (CPI) might rise or fall and the price of chicken at Wegmans could make a very small difference in the CPI if chicken at Wegmans is included in the index. However, chicken would be a relatively small portion of the entire CPI, if it is included at all.
e. chicken prices are never included in the consumer price index (CPI) because the creator of the CPI, James Gapinski, did not like chickens.

Question

Lizae9543 Lizae9543

09-02-2022
Business

contestada

Chicken becomes more expensive in 2008 at Wegmans in State College, Pennsylvania. This means:

a. the consumer price index (CPI) will rise in 2008 if, and only if, State College is one of the 38 geographic locations and chickens are one of the 8,000 goods included in the CPI.
b. the consumer price index (CPI) will almost certainly rise in 2008, even if State College is not included, as long as chicken is included and becomes more expensive on average at the indexed locations.
c. the consumer price index (CPI) will likely fall if the average weighted price of chicken increases in the United States and the price of chicken at Wegmans makes almost no difference in the CPI.
d. the consumer price index (CPI) might rise or fall and the price of chicken at Wegmans could make a very small difference in the CPI if chicken at Wegmans is included in the index. However, chicken would be a relatively small portion of the entire CPI, if it is included at all.
e. chicken prices are never included in the consumer price index (CPI) because the creator of the CPI, James Gapinski, did not like chickens.

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azikennamdi azikennamdi · Answer 1 · 2022-02-22T12:49:36+01:00

When the price of a product in a certain location rises, it can only affect the Consumer Price Index (CPI) if that location is used in the computation of the CPI and if the good whose price increased is also included.

What is Consumer Price Index?

This refers to the mean difference in prices over that that people pay for a basket of goods and services.

The CPI is calculated as a weighted average of a broad cross-section of goods and services. This collection of goods and services is what is referred to as a basket of goods and services.

See the link below for more about Consumer Price Index:

https://brainly.com/question/5992428