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Suppose from 2020 to 2021, the price of high-caffeine soda increased significantly, leading many people to buy less soda and more coffee. Which statement best
Suppose from 2020 to 2021, the price of high-caffeine soda increased significantly, leading many people to buy less soda and more coffee. Which statement best describes the impact of this change on the CPI? O A. The BLS should change the basket weightings and include more units of highcaffeine soda in their calculations. 0 B. The CPI underestimates the cost of living because of the larger increase in the price of soda. 0 C. The CPI accurately estimates the cost of living because it uses the current price of soda in each year to calculate inflation. O D. The CPI overestimates the cost of living because of substitution bias
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