When a good gets better from one year to the next, the CPI has a what is called
A) commodity substitution bias.
B) outlet substitution bias.
C) magnitude of change bias.
D) new goods bias.
E) quality change bias.
E
Economics
You might also like to view...
The intercept in the multiple regression model
A) should be excluded if one explanatory variable has negative values. B) determines the height of the regression line. C) should be excluded because the population regression function does not go through the origin. D) is statistically significant if it is larger than 1.96.
Economics
By adding internal costs to external costs, we determine the total
A) private cost. B) social cost. C) psychological cost. D) opportunity cost.
Economics