9. Which of the following statements best expresses the Popperian definition of science? (A) We should always follow the science. (B) Science is about the pursuit of truth, beauty, and goodness. (C) Science is an empirical process of trying to prove that claims are false. (D) Science involves observation and replication of physical phenomena. 10. Suppose that St. Catharines has a CPI of 85 and Brampton has a CPI of 100. Which of the following sets of salaries provides the same purchasing power in both cities? (A) $100,000 in St. Catharines and $115,000 in Brampton. (B) $127,500 in St. Catharines and $150,000 in Brampton. (C) $42,500 in St. Catharines and $55,000 in Brampton. (D) $201,500 in St. Catharines and $216,000 in Brampton. 11. Yakuv purchases $5,000 worth of ganja at the grocery store. Which of the following statements is TRUE? (A) The ganja is a real variable and the $5,000 is a nominal variable. (B) The ganja is a nominal variable and the $5,000 is a real variable. (C) Both the ganja and the $5,000 are real variables. (D) Both the ganja and the $5,000 are nominal variables.

9. Which of the following statements best expresses the Popperian definition of science? (A) We should always follow the science. (B) Science is about the pursuit of truth, beauty, and goodness. (C) Science is an empirical process of trying to prove that claims are false. (D) Science involves observation and replication of physical phenomena. 10. Suppose that St. Catharines has a CPI of 85 and Brampton has a CPI of 100. Which of the following sets of salaries provides the same purchasing power in both cities? (A) $100,000 in St. Catharines and $115,000 in Brampton. (B) $127,500 in St. Catharines and $150,000 in Brampton. (C) $42,500 in St. Catharines and $55,000 in Brampton. (D) $201,500 in St. Catharines and $216,000 in Brampton. 11. Yakuv purchases $5,000 worth of ganja at the grocery store. Which of the following statements is TRUE? (A) The ganja is a real variable and the $5,000 is a nominal variable. (B) The ganja is a nominal variable and the $5,000 is a real variable. (C) Both the ganja and the $5,000 are real variables. (D) Both the ganja and the $5,000 are nominal variables.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter16: Measuring The Cost Of Living

Section: Chapter Questions

Problem 8PA

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Please make sure the answer is correct 100%
10. how much would it cost?
3. The CPI underestimates the cost of living for (a) commuters, if transportation costs rise faster than other prices (b) retirees, if health costs rise slower than other prices (c) everyone due to the substitution bias (d) none of the above
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Question 13: (a) The consumer price index (CPI) is the most commonly used measure of changes in the general level of prices in Australia. Discuss some shortcomings of using the CPI to measure the cost of living. (b) Why do some people 'lose' from inflation and why do some people 'win' from inflation?