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Author Question: Under which of the following conditions will there be no substitution bias in the CPI? A) ... (Read 74 times)

Kikoku

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Under which of the following conditions will there be no substitution bias in the CPI?
 
  A) Lower-priced goods increase in price by a greater percentage than do higher-priced goods.
  B) Higher-price goods increase in price by a greater percentage than do lower-priced goods.
  C) All goods change in price by the same amount.
  D) All goods change in price by the same percentage.

Question 2

Under which of the following conditions will there be no substitution bias in the CPI?
 
  A) Indifference curves are convex.
  B) Indifference curves are L-shaped.
  C) Indifference curves are linear.
  D) Indifference curves are downward sloping.


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zhanghao

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Kikoku

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Reply 2 on: Jul 1, 2018
Excellent


jojobee318

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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