Multiple Choice
Which of the following is a price index that measures changes in the prices of personal consumption expenditures where the relative weights of the items in the index change as consumers substitute out of relatively more expensive items and into relative cheaper items?
A) the consumer price index
B) the price index for personal consumption expenditures
C) the quality price index
D) the GDP deflator
Correct Answer:
Verified
Correct Answer:
Verified
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