The iPhone 7 was launched without a headphone jack. This "innovation" is will mean
A) the CPI will understate inflation as cheap headphones must be replaced with more expansive wireless ones.
B) the CPI will overstate inflation because lack of a headphone jack is an example of a quality improvement.
C) the CPI will understate inflation due to the new product bias.
D) the CPI will overstate inflation due to the outlet bias as people buy new phones at iStores.
E) the CPI will understate inflation due to the outlet bias.
Correct Answer:
Verified
Q175: The consumer price index is the
A)cost of
Q176: Table 5.2 Q177: A consumer price index of 160 in Q178: Table 5.6 Q179: Table 5.4 Q181: The most widely used measure of inflation Q182: Shelter is the largest component of the Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents