Which of the following biases the CPI to underestimate increases in prices?
a. The substitution bias
b. The quality bias
c. The new outlet bias
d. None of the above
d
Economics
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The most progressive tax of the major taxes employed in the United States _____
a. are sales taxes b. are excise taxes c. are income taxes d. are property taxes
Economics
If we say that a price is too high to clear the market, we mean that:
A. quantity demanded exceeds quantity supplied. B. the equilibrium price is above the current price. C. quantity supplied exceeds quantity demanded. D. the price of the good is likely to rise.
Economics