4. Which of the following occurs because consumers can sometimes substitute cheaper goods for those that have

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4. Which of the following occurs because consumers can sometimes substitute cheaper goods for those that have risen in price?

a. the CPI overstates inflation

b. the CPI understates inflation

c. the GDP deflator overstates inflation

d. the GDP deflator understates inflation

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Principles Of Macroeconomics

ISBN: 9780176591977

7th Canadian Edition

Authors: N. Mankiw, Ronald Kneebone, Kenneth McKenzie

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Question Posted: Sep 28, 2024 07:02 AM

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4. Which of the following occurs because consumers can sometimes substitute cheaper goods for those that have

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Principles Of Macroeconomics

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