By Not Taking into Account the Possibility of Consumer Substitution

question 148

Multiple Choice

By not taking into account the possibility of consumer substitution, how is the CPI biased?

• A) It understates the cost of living because people buy more of the newer goods.
• B) It overstates the cost of living because people buy more of the cheaper goods.
• C) It understates the cost of living because people have higher incomes and perceive some goods as inferior.
• D) It overstates the cost of living because people have higher incomes and perceive formerly luxury goods as necessities.

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Definitions:

Across, Then Down

A printing or layout term referring to the direction content is organized or distributed on a page, starting from left to right, before moving to the next line.

Down, Then Across

A print or display order option where data fills down the page before moving to the next column.

Form Layout View

An interface in database applications that allows users to design and arrange the visual structure of forms.

Height

In the context of user interfaces, refers to the vertical size or extent of an element or object, often measurable in pixels or points.