In 1996,an Advisory Committee of Economists That Studied the CPI

Multiple Choice

In 1996,an advisory committee of economists that studied the CPI found

A) no bias in the CPI
B) that in a typical year the CPI overstates the inflation rate by at least 1.1 percent per year
C) that the CPI consistently overestimates the inflation rate by less than 1 percent per year
D) that the CPI typically underestimates the inflation rate
E) that the CPI is somewhat erratic;it occasionally underestimates and occasionally overestimates the inflation rate