Laura Bought Word Processing Software for $50

question 46

Multiple Choice

Laura bought word processing software for $50.A year later,Laura's twin brother Laurence bought an upgraded version of the same software for $50.Which of the following problems in the construction of the CPI does this situation best represent?

• A)substitution bias
• B)unmeasured quality change
• C)introduction of new goods
• D)income bias

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Definitions:

Executive Functions

Executive functions are a set of cognitive processes including attentional control, inhibitory control, working memory, and cognitive flexibility, which are necessary for the cognitive control of behavior.

Cognitive Processes

The mental actions or mechanisms by which knowledge is acquired, processed, and utilized, including perception, memory, and reasoning.

Intentionally Controlling

Deliberately exerting influence or authority over a person, situation, or environment to achieve a desired outcome.

Cognitive Growth

An increase in knowledge, understanding, and the ability to think critically and solve problems.