When discussing the CPI,the term "commodity substitution bias" refers to changes in
A) prices that lead business to change the items they buy.
B) quantities that lead households to change the items they buy.
C) prices that lead households to change the items they buy.
D) income that lead households to change the items they buy.
E) stores so that consumers switch from one store to another.
Correct Answer:
Verified
Q101: If the CPI is used as a
Q102: When a good gets better from one
Q103: The CPI overstates inflation because the average
Q104: Economists agree that the CPI
A)is a near
Q105: The fact the consumers substitute one good
Q107: Which of the following is a bias
Q108: The CPI is biased because it
A)takes into
Q109: An example of the quality change bias,and
Q110: Which of the following makes the Consumer
Q111: Suppose the Bureau of Labor Statistics uses
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