The CPI might overstate inflation because consumers may shift consumption to cheaper alternatives. Which bias is this associated with? unmeasured quality variety of goods import bias
The CPI might overstate inflation because consumers may shift consumption to cheaper alternatives. Which bias is this associated with? unmeasured quality variety of goods import bias
Chapter17: Inflation
Section: Chapter Questions
Problem 8SQ
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Question
The CPI might overstate inflation because consumers may shift consumption to cheaper alternatives. Which bias is this associated with?
unmeasured quality |
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variety of goods |
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import bias |
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substitution bias |
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