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Which of the following is a valid criticism of the consumer price index (CPI)? Choose 1 A)The CPI understates the actual burden of inflation because the price changes are due to quality improvements. B) The CPl understates the burden of inflation on households because households can substitute cheaper goods for more expensive goods when prices increase. C)The CPI overstates the actual burden of inflation because people look around for cheaper goods, which is costiv to do when prices increase. D) The CPI overstates the actual burder of inflation because people can look around costlessly for cheaper goods when prices increase E)The CPI overstates the burden of inflation on nouseholds because households can substitute cheaper goods instead of more expensive goods when prices increase
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Which of the following is a valid criticism of the consumer price index (CPI)? Choose 1 A)The CPI u...
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