Substitution bias in inflation measures refers to
A) the willingness of society to substitute future consumption with more present consumption than is optimal
B) the tendency for consumers to substitute away from goods whose price rise more than average
C) individuals substitution better quality goods for poor quality goods as their income rises
D) the bias against certain students from a substitute teacher
Correct Answer:
Verified
Q1: Which of the following is NOT a
Q2: A lower discount rate tends to lead
Q3: In Figure 8-5 what is the level
Q4: When finding the weighted discount rate one
Q6: Rawls' Just Savings principle states that
A)wealthier future
Q7: Taking into account intergeneration equity usually requires
A)a
Q8: The Social Rate of Time Preference is
A)the
Q9: The shadow price of a good is
A)the
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