Explain why the base year is periodically updated

Reference no: EM131772302

Question: As mentioned in this chapter, both the base year and the relative weights used for the Consumer Price Index are periodically updated.

a. Why is it important to update the relative weights used for the CPI?

b. Explain why the base year is periodically updated.

Reference no: EM131772302

Questions Cloud

How many tickets of each kind have been sold : It has sold 114 more $20 tickets than $10 tickets. The total sales are $66,000. How Many tickets of each kind have been sold

Create a tuition index for each year : Find out what the tuition and fees were for your school for the previous 4 years and the current year. Using the cost 5 years ago as the base.

What is the wacc for a firm : What is the WACC for a firm with 40% debt, 20% preferred stock, and 40% equity if the respective costs for these components are 6% after tax

Discuss direct manufacturing labor price variance : Direct manufacturing labor price variance, Direct manufacturing labor efficiency variance

Explain why the base year is periodically updated : As mentioned in this chapter, both the base year and the relative weights used for the Consumer Price Index are periodically updated.

Examine your cultural ideas of virtues : Examine your cultural ideas of virtues and how they compare with other cultures. Explain how your idea of being virtuous fits within a cultural context.

Explain what is meant by bracket creep : The Bureau of Labor Statistics reports that one use of the Consumer Price Index is to periodically adjust the federal income tax structure.

Describe the nature of the procedures that the auditors : Describe the nature of the procedures that the auditors must perform beyond those required by generally accepted auditing standards

How might you respond to mccloskey : McCloskey's main objection to theism is the presence of evil in the world and he raises it several times. How might you respond to McCloskey?

User Account

All Pages