Ceteris paribus, in the short run following a decrease in the rate of growth in aggregate demand, we would expect to see an increase in the rate of unemployment and a decrease in the rate of inflation.
Indicate whether the statement is true or false
Question 2
The Bureau of Labor Statistics has taken several steps to reduce the bias in the consumer price index. Which of the following is not one of the steps taken to reduce the bias?
A) updating the market basket every two years, rather than every 10 years
B) using statistical methods to reduce the size of the quality bias
C) conducting a point-of-purchase survey to track where consumers actually make their purchases
D) incorporating substitutions by consumers when prices of specific products rise rapidly
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