Michelle Bought Word-Processing Software in 2009 for $75

question 185

Multiple Choice

Michelle bought word-processing software in 2009 for $75.Michelle's cousin,Barry,bought an upgrade of the same software in 2010 for $75.To which problem in the construction of the CPI is this situation most relevant?

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

---

Definitions:

Collective Bargaining

A process where employees negotiate with their employers to establish terms of employment, including wages and working conditions.

Wagner Act

Also known as the National Labor Relations Act of 1935, a foundational US law that established the rights of workers to organize into unions and engage in collective bargaining.

Management and Labor

The relationship and dynamics between employers (management) and workers (labor), often involving negotiation, cooperation, and sometimes conflict.

Sherman Antitrust Act

A landmark federal statute in the United States passed in 1890 aimed at promoting economic competition by prohibiting monopolies, cartels, and other forms of anticompetitive business practices.