Which of the following statements is false? Statement 1: Countries will have similar composition in their...
Which of the following statements is false?
Statement 1: Countries will have similar composition in their price indices.
Statement 2: The weights given to goods and services depend on the customer's purchasing habits.
a. Statement 1 only
b. Statement 2 only
c. None of the statements is false.
Homework Answers
A. Statement 1 only
Composition for different countries are different as preference for different goods and services are different. For example developed country has more preference for technology and service than for poor country. So composition of technology base goods like mobile, pc has more weightage in developed country than poor country
Statement 2 is correct due to similar reason discussed above that customers have different purchasing habit
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