Multiple Choice
Suppose higher prices lead consumers to switch from shopping at Myers to shopping at Target. If the CPI does not reflect this change, it is referred to as
A) a new price bias.
B) a quality change bias.
C) an outlet substitution bias.
D) a new goods bias.
E) store bias.
Correct Answer:
Verified
Correct Answer:
Verified
Q47: The CPI market basket<br>A) determines how the
Q48: The difference between nominal and real is<br>A)
Q49: The quality change bias is most likely
Q50: If your real income in base year
Q51: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8401/.jpg" alt=" -The data in
Q53: If prices have decreased since the base
Q54: In the current year, the CPI is
Q55: In Australia between 1997and 2018, the<br>A) real
Q56: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8401/.jpg" alt=" -Based on the
Q57: For the purpose of measuring the cost