Recall the Application about the time involved in including cell phones in the calculation of the CPI to answer the following question(s).
-According to this Application, the bias in the CPI would be ________ if new goods are ________ incorporated in CPI calculations.
A) smaller; quickly
B) greater; immediately
C) smaller; slowly
D) negligible; slowly

Question

Quizplus · Accepted Answer

The bias in the CPI would be smaller if new goods are quickly incorporated in CPI calculations because it would more accurately reflect current consumer spending patterns and prices.

Recall the Application About the Time Involved in Including Cell