By Not Taking into Account the Possibility of Consumer Substitution,the

Multiple Choice

By not taking into account the possibility of consumer substitution,the CPI

A) understates the cost of living.
B) overstates the cost of living.
C) may overstate or understate the cost of living, depending on how much prices rise.
D) may overstate or understate the cost of living, regardless of the extent to which prices rise.