Several studies in the 1990s concluded that the consumer price index overstated inflation by about
a. 3 percentage points per year, and that number of percentage points likely still applies now.
b. 3 percentage points per year, but recent improvements to the CPI probably have reduced the overstatement of inflation to something less than 3 percentage points.
c. 1 percentage point per year, and that number of percentage points likely still applies now.
d. 1 percentage point per year, but recent improvements to the CPI probably have reduced the overstatement of inflation to something less than 1 percentage point
d
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In the short run, an increase in net exports causes
A. an increase in real GDP and the price level. B. an increase in real GDP and a decrease in the price level. C. adecrease in real GDP and an increase in the price level. D. a decrease in real GDP and the price level.
What is the difference between a demand schedule and a demand curve?
What will be an ideal response?