Multiple Choice
The CPI may be an inaccurate measure of changes in the price level because
A) consumers rarely switch to less expensive products when the price of a particular good increases.
B) it is a changing quantity index.
C) changes in product quality are not taken into account.
D) the market basket of goods was determined arbitrarily by the government without conducting surveys of spending patterns.
Correct Answer:
Verified
Correct Answer:
Verified
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