Business, 15.04.2020 02:56 hgfughi

The substitution bias in the consumer price index refers to the idea that consumers the quantity of products they buy in response to price, and the CPI does not reflect this and the cost of the market basket.
a. change; over-estimates
b. change; under-estimates
c. do not change; over-estimates
d. do not change; under-estimates

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The substitution bias in the consumer price index refers to the idea that consumers the quantity of...

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