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
D
Economics
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a. currency convertibility. b. asset convertibility. c. convertibility. d. money convertibility. e. liquidity.
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Diminishing marginal product first sets in at the minimum point of the
a. ATC curve. b. AVC curve. c. AFC curve. d. MC curve.
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