The biases in the CPI include the
A) old goods, unemployment, and inflation biases.
B) new goods, quality change, and substitution biases.
C) old goods, new goods, and quality change biases.
D) substitution, new goods, and old goods biases.
B
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The government of Genovia introduced an unemployment insurance that ensures full payment of former wages to unemployed workers
A study conducted a few months after the introduction of this policy showed that several unemployed workers in Genovia were not actively searching for work. Such behavior is an example of ________. A) adverse selection B) moral hazard C) the prisoners' dilemma D) the free-rider problem
Refer to Table 2-1. Assume Tomaso's Trattoria only produces pizzas and calzones. A combination of 24 pizzas and 30 calzones would appear
A) along Tomaso's production possibilities frontier. B) inside Tomaso's production possibilities frontier. C) outside Tomaso's production possibilities frontier. D) at the horizontal intercept of Tomaso's production possibilities frontier.