Economics

Economics (Proper English) WK 6 2 Order Description Backgrоund Information The Bureau of Labor Statistics tries to measure the Consumer Price Index using a market basket of goods and services including food and beverages, housing, aррarel, transportation, medical care, recreation, education, communication, and other goods and services. The introduction of new technologies can affect the CPI and will be a focus for this forum. Instructions 1. Review the following animations. To move through the animation sequence, click Next until you reach the end of that animation sequence. These animations will prepare you for the discussions and other assignments in this and upcoming workshops. a. Animation 16.1 https://www.econplace.com/foundations/6e/etext/ess/fig1601.html b. Animation 16.2 https://www.econplace.com/foundations/6e/etext/ess/fig1602.html c. Animation 16.3 https://www.econplace.com/foundations/6e/etext/ess/fig1603.html d. Animation 16.4 https://www.econplace.com/foundations/6e/etext/ess/fig1604.html e. Animation 16.5 https://www.econplace.com/foundations/6e/etext/ess/fig1605.html Discussion below and respond to the following: a. In October 2011, Apple introduced the iPhone 4S, which had new features, including camera and voice control, but sold at the same price as the previous iPhone model. i. How did the introduction of the iPhone 4S affect the Consumer Price Index? ii. What factors in the calculation of the CPI caused this effect?