To Which of the Problems in the Construction of the CPI

question 88

Multiple Choice

To which of the problems in the construction of the CPI is the invention of pocket-sized computers most relevant?

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

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Definitions:

Culture of Poverty

A concept in social theory that suggests that poverty is not a result of individual inadequacies but is instead the outcome of a larger social and cultural atmosphere that perpetuates and sustains poverty.

Immediate Gratification

The desire to experience pleasure or fulfillment without delay or deferment.

Permissive

A term often describing an attitude, behavior, or policy that allows or tolerates actions that were formerly disapproved of or restricted.

Absolute Poverty

A condition where individuals or families cannot meet basic needs for survival, such as food, shelter, and clothing.