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Author Question: Which of the following would be a consequence of substitution bias in the CPI? A) Judges would ... (Read 55 times)

jazziefee

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on: Jun 29, 2018
Which of the following would be a consequence of substitution bias in the CPI?
 
  A) Judges would award child support payments that would not adequately keep up with the true cost of inflation.
  B) Businesses would overcompensate employees for inflation when giving cost of living raises.
  C) Social Security payments would not adequately compensate retired workers for inflation.
  D) The inflation rate based on the CPI would underestimate the true level of inflation.

Question 2

Refer to Scenario 25-1. M2 in this simple economy equals
 
  A) 3,000. B) 8,000. C) 14,000. D) 21,000.


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mbcrismon

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


jazziefee

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

shewald78

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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