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Question 14 (1 point) The effect of substitution bias is that the rise in the price of a fixed basket of goods over time
Posted: Thu May 19, 2022 8:30 am
by answerhappygod
- Question 14 1 Point The Effect Of Substitution Bias Is That The Rise In The Price Of A Fixed Basket Of Goods Over Time 1 (29.25 KiB) Viewed 126 times
Question 14 (1 point) The effect of substitution bias is that the rise in the price of a fixed basket of goods over time tends to the rise in a consumer's true cost of living, because it doesn't take into account that the person can substitute between goods according to changes in their relative prices. overstate stabilize understate reduce