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.
C
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Supply-side economists encourage government to reduce taxes, deregulate, and increase spending on research and development because they think that these types of policies lead to greater long-run economic growth
a. True b. False Indicate whether the statement is true or false
Which of the following groups is most likely to derive substantial benefits from the Patient Protection and Affordable Care Act?
a. Healthy young people. b. Individuals and families with incomes of more than 400 percent of the poverty level. c. Individuals with pre-existing health problems. d. The elderly.