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Rav goes to the grocery store to make his monthly purchase of coffee. As he enters the beverage section, he notices that the price of
Rav goes to the grocery store to make his monthly purchase of coffee. As he enters the beverage section, he notices that the price of coffee has been raised by 15 percent, so he decides to buy some tea instead. Which problem in the construction of the CPI is this situation most relevant to?
Select one:
unmeasured quality change
substitution bias
introduction of new goods
income effect
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