The Consumer Price Index Is Subject to Substitution Bias Because

question 194

Multiple Choice

The consumer price index is subject to substitution bias because

• A)some pairs of goods are complements rather than substitutes.
• B)some goods are inferior rather than normal.
• C)the law of demand applies to most,if not all,goods.
• D)the index does not take into account the likelihood that consumers substitute newly-introduced goods for more-established goods.

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Definitions:

Antigens

Substances recognized by the immune system, potentially triggering an immune response.

Polysaccharides

Large molecules composed of many sugar units bonded together, functioning as energy stores or structural components in living organisms.

Specific Defense Mechanisms

Immune responses that are specifically tailored to recognize and target particular pathogens or antigens.

Antibodies

Proteins produced by the immune system that recognize and neutralize foreign substances such as bacteria and viruses.