The Quality Adjustment Bias of the CPI Refers to the Failure

question 83

Multiple Choice

The quality adjustment bias of the CPI refers to the failure of statisticians to:

• A)allow for the possibility that consumers switch from products whose prices are rising.
• B)allow for the possibility that consumers switch stores at which they shop.
• C)take into account improvements in goods and services.
• D)take into account price changes in goods and services.

---

Definitions:

Node of Ranvier

Gaps in the myelin sheath of nerve fibers where action potentials are generated, aiding in the rapid transmission of nerve impulses.

Dendrites

Extensions of neurons that receive signals from other neurons or sensory stimuli and convey them toward the cell body.

Chemical Synapse

A type of synapse at which a chemical (neurotransmitter) is released from the axon terminal of a neuron into the synaptic cleft between neurons, facilitating neural communication.

Synaptic Cleft

The tiny gap between two neurons, across which neurotransmitters travel to transmit nerve impulses.