The CPI measures the average level of prices of all final goods and services produced in the economy

According to this Application, the failure of including cell phones in a timely manner when calculating the CPI caused the telecommunications component of the price index

A) to become negative. B) to be biased upward. C) to be biased downward. D) to actually register no perceptible bias.

Refer to the scenario above. Jacob should submit a bid of ________

A) $500 B) $400 C) $300 D) $225