One problem with the consumer price index stems from the fact that, over time, consumers tend to buy larger quantities of goods that have become relatively less expensive and smaller quantities of goods that have become relatively more expensive. This problem is calleda. price-change neglect. b. unmeasured quality change. c. substitution bias. d. relative bias.
+1
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “One problem with the consumer price index stems from the fact that, over time, consumers tend to buy larger quantities of goods that have ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Home » Business » One problem with the consumer price index stems from the fact that, over time, consumers tend to buy larger quantities of goods that have become relatively less expensive and smaller quantities of goods that have become relatively more expensive.