Question

Changes in the quality of a good Group of answer choices do not present a problem in the construction of the consumer price index. present a problem in the construction of the consumer price index, and that problem is sometimes referred to as substitution bias. are not accounted for, as a matter of policy, by the Bureau of Labor Statistics. can lead to either an increase or a decrease in the value of a dollar.

Answer 1

Answer: Consumer price index

Explanation: A Consumer Price Index measures changes in the price level of a weighted average market basket of consumer goods and services purchased by households. The CPI is a statistical estimate constructed using the prices of a sample of representative items whose prices are collected periodically