Multiple Choice
If the Laspeyres quantity index is less than 1, then:
A) the consumption bundle in period 1 is preferred to that of period 0.
B) the consumption bundles cannot be compared.
C) both consumption bundles are equally preferred.
D) the consumption bundle in period 0 is preferred to that of period 1.
Correct Answer:
Verified
Correct Answer:
Verified
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