The quality change bias is most likely to put ________ into the CPI and so ________ the inflation rate
A) a downward bias; understate
B) an upward bias; understate
C) an upward bias; overstate
D) a downward bias; overstate
E) a random bias; randomly overstate or understate
C
Economics
You might also like to view...
A minimum wage set at the competitive market wage level affects the monopsonist by
A) altering its marginal expenditure curve and raising its employment level. B) reducing its output. C) altering the market supply curve. D) altering its marginal expenditure curve and lowering its employment level.
Economics
The International Monetary System was established
A) by the United Nations. B) by the Bretton Woods Agreement. C) by the United States, in cooperation with Great Britain. D) during the Great Depression by the League of Nations.
Economics