In 1995,the Boskin commission identified which of the following problems with the computation of the CPI?
A) it does not account for the fact that consumers can substitute away from products as they get more expensive
B) an increase in price could be the result of quality improvements rather than an increase in the cost of living
C) it often does not reflect decreases in the cost of living that occur when new goods are introduced
D) all of the above
E) none of the above
Correct Answer:
Verified
Q53: Nominal GDP =_ where the price level
Q54: Real and Nominal GDP Q55: Real GDP =_ where the price level Q56: Computing the CPI is important because _. Q57: The Bureau of Economic Analysis calculates the Q59: Computing the CPI is important because it
A)it
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