Multiple Choice
If a new and better good replaced an older and less expensive good, then the price level measured by the CPI .
A) is higher than the actual price level
B) is the same as the actual price level because it measures the prices of the actual goods.
C) might be either higher or lower than the actual price
D) is lower than the actual price level
Correct Answer:
Verified
Correct Answer:
Verified
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