The Outlet Substitution Bias Is Most Likely to Put ________

Multiple Choice

The outlet substitution bias is most likely to put ________ and so ________ the inflation rate.

A) an upward bias into the CPI; understate
B) a downward bias into the CPI; overstate
C) a downward bias into the CPI; understate
D) an upward bias into the CPI; overstate
E) no bias into the CPI because it is such a small effect; have no effect on