Business, 03.12.2019 04:31, boemeh459

Suppose that the price of chicken rises sharply compared to the price of turkey. in response, consumers buy more turkey and less chicken than they did in the cpi base year. in this situation the cpi will tend to inflation as a result of bias

a) overstate; substitution
b) understate; substitution
c) accurately measure; substitution
d) overstate; quality adjustment

Answers: 1

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Suppose that the price of chicken rises sharply compared to the price of turkey. in response, consum...