Positive economic analysis is said to be

Why is real GDP a more accurate measure of the level of production in an economy than nominal GDP? Explain with an example

What will be an ideal response?

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.