A price collector visits a supermarket and finds that a processed food item is out of stock. After one month, the item is still unavailable in the same outlet but available in another nearby store. What should the price collector do?, Continue using the last recorded price, Drop the item from the list, Get the price from the nearest available outlet, Wait for another month, A non-food item (e.g., hardware item) has been unavailable in a specific outlet for three consecutive months, but it is available in another outlet., Keep using the last price indefinitely, Replace the outlet and collect price from another outlet, Skip the item, Remove the item permanently, A product (e.g., old model tablet) has not been available in any outlet in the municipality for three months and is already phased out. A newer model with different specifications is available. What should be done on the fourth month?, Continue using the old price, Ignore the new model, Remove the item completely, Use the new model as substitute and apply linking/overlap method, Why is the geometric mean used in computing the 6-digit item index?, It simplifies computation, It reduces the impact of extreme price relatives, It ignores weights, It increases index values, A price differs by more than 10% from other outlets. What should be done FIRST?, Automatically remove the value, Replace with median price, Verify if the price is correct , Ignore if only one value, Why are weights applied in computing higher-level indices (e.g., 5-digit and above)?, To equalize all commodities, To simplify formulas, To reduce computation time, To reflect importance of commodities in consumption, A price entry shows a value but no store name and address. What is the MOST appropriate action?, Assign a store name/address after verification, Submit the data as is, Delete the entry immediately, Replace with average price, Why is the geometric mean used in computing the 6-digit item index?, It simplifies computation, t reduces the impact of extreme price relatives, It increases index values, It ignores weights, If CPI increases while nominal income remains constant, what happens to real income?, Increases, Decreases, Remains unchanged, Doubles, If inflation is high but income increases faster, what happens to purchasing power?, No change, Decreases, Increases, Becomes zero, Which reflects a decline in purchasing power?, Lower demand, Decreasing CPI, Stable prices, Increasing CPI, What is the main purpose of reviewing GR (Growth Rate) column?, To count entries, To detect abnormal price changes, To calculate CPI, To encode faster.

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