Comparisons of GDP between developed and underdeveloped countries are often misleading because underdeveloped countries produce

a. a greater share of their total production in the household sector, which understates their GDP relative to developed countries.
b. a smaller share of their total production in the household sector, which understates their GDP relative to developed countries.
c. a greater share of their total production in the household sector, which overstates their GDP relative to developed countries.
d. a smaller share of their total production in the household sector, which overstates their GDP relative to developed countries.

A

Economics

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Which of the following is NOT a source of bias in the CPI? i. quality change bias ii. new goods bias iii. quantity change bias

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