Business, 06.10.2019 10:00 kdcloyd88191

In the context of inflation, which best describes substitution bias? evaluating the price of a basket of goods over time does not account for changes that consumers make when the price of a particular good increases. inflation is best measured by comparing the price of a single good over time. evaluating the price of a basket of goods over time does not consider the varying tax rates affecting consumers. inflation affects individual consumers at different rates, so no one measure can be accurate.

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In the context of inflation, which best describes substitution bias? evaluating the price of a bask...

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