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lover567 lover567
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5 years ago
The fact the consumers substitute one good for another when prices change is
A) taken into account by the fixed market basket used in calculating the CPI.
B) not taken into account by the fixed market basket used in calculating the CPI.
C) not important to economists.
D) a reason why the CPI is used to calculate inflation rates.
E) a reason why the CPI understates the actual change in the cost of living.
Textbook 
Foundations of Macroeconomics

Foundations of Macroeconomics


Edition: 8th
Authors:
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TurboturnerTurboturner
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5 years ago
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lover567 Author
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#2
5 years ago
Enough said, this helped my grade so much
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#3
5 years ago
Perfect
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