There Are Separate CPIs for Various Components of the Market

question 2

Multiple Choice

There are separate CPIs for various components of the market basket. For example, the CPI for new motor vehicles (1982-84 = 100) was 132.4 in 2008.
If there were adjustments in the new motor vehicle index due to quality improvements , would the actual increase in new motor vehicle prices be greater, smaller, or the same as in the previous question?

• A) Greater
• B) Smaller
• C) The same
• D) Could be either greater or smaller.

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