Which of the problems in the construction of the CPI might be illustrated by eac

Question

Which of the problems in the construction of the CPI might be illustrated by each of the following situations? Indicate your answer by placing an "X" in the appropriate fields in the table below. If a box does not require an entry, leave it blank. ? Substitution Bias Introduction of New Goods Unmeasured Quality Change 1. The invention of the iPod 2. The introduction of air bags in cars 3. Increased personal computer purchases in response to a decline in their price 4. More scoops of raisins in each package of Raisin Bran 5. Greater use of fuel-efficient cars after gasoline prices increase

Explanation / Answer

introduction of new goods unmeasured quality change substitution bias unmeasured quality change substitution bias

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