By Not Taking into Account the Possibility of Consumer Substitution,the

question 195

Multiple Choice

By not taking into account the possibility of consumer substitution,the CPI

• A)understates the cost of living.
• B)overstates the cost of living.
• C)may overstate or understate the cost of living,depending on how quickly prices rise.
• D)may overstate or understate the cost of living,regardless of how quickly prices rise.

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Definitions:

Equal Rights

The principle that all people should have the same rights and opportunities without discrimination.

Thaddeus Stevens

A nineteenth-century U.S. politician and fierce advocate for the abolition of slavery and leader in the effort to implement Reconstruction policies aimed at securing rights for freed slaves.

Civil Rights Bill

The Civil Rights Bill usually refers to legislation aimed at enforcing or furthering civil rights, such as the U.S. Civil Rights Act of 1964 which outlawed discrimination based on race, color, religion, sex, or national origin.

1866

A year marked by significant events such as the passing of the Civil Rights Act in the United States, attempting to protect the rights of African Americans.