The Commodity Substitution Bias Is That

question 96

Multiple Choice

The commodity substitution bias is that

• A)consumers substitute high-quality goods for low-quality goods.
• B)government spending is a good substitute for investment expenditures.
• C)national saving and foreign borrowing are interchangeable.
• D)consumers decrease the quantity they buy of goods whose relative prices rise and increase the quantity of goods whose relative price falls.
• E)consumers substitute more expensive goods for less expensive goods when technology advances.

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Definitions:

Social Position

An individual's or group's status and role in society, determined by various factors such as occupation, class, gender, and ethnicity.

Double Shift

Refers to the phenomenon where individuals, especially women, work a paid job and then perform unpaid domestic work at home.

Soccer Practice

The scheduled training and preparation session for the sport of soccer, involving drills, exercises, and strategy discussion.

Cleans The House

A phrase indicating the act of tidying, organizing, and removing dirt from the interior of a house to maintain cleanliness and order.