An expected value is the ________ average of ________ outcomes.
A) unweighted; the most likely
B) weighted; all possible
C) unweighted; all possible
D) weighted; the most likely
B) weighted; all possible
Economics
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A reason why the CPI overstates the cost of living is it
A. only measures the effects of inflation on the poor. B. makes no attempt to update the market basket. C. updates the market basket infrequently, thereby missing the steep price decline in the early adoption period. D. makes no attempt to ascertain what average people buy.
Economics
In Figure 32.1, at the market equilibrium price-quantity combination, the value to consumers is 
A. 0P*CQ*. B. 0ACQ*. C. 0ABQD. D. 0PfloorBQD.
Economics