Substitution Bias Occurs Because the CPI Ignores the Possibility of Consumer

question 160

True/False

Substitution bias occurs because the CPI ignores the possibility of consumer substitution toward goods that have become relatively less expensive.

---

Definitions:

Innate Traits

Characteristics or qualities that an individual is born with, not acquired or learned.

Maturation

The process of becoming mature; the process of developing in physical, sexual, intellectual, and emotional capacities, typically seen as a natural growth pattern.

Human Genome

The complete set of nucleic acid sequences for humans, encoded as DNA within the 23 chromosome pairs in cell nuclei and in a small DNA molecule found within individual mitochondria.

Genes

Units of heredity made up of DNA that carry genetic information and are responsible for the inherited characteristics of organisms.