For some racquet sports, there have been increases in the size of the racquets; also, the methods and materials used for making racquets have improved. To which problem in the construction of the CPI is this situation most relevant?
a. substitution bias
b. introduction of new goods
c. unmeasured quality change
d. income bias
c
Economics
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If Mousey Mike threatens to tell, what would Bratty Brad's best response be?
a. Hit b. Not hit c. Run d. Hide
Economics
The long-run supply curve of a perfectly competitive market is a:
a. an upward rising step function. b. a downward sloping step function. c. a vertical line at the market price. d. a horizontal line at the market price.
Economics