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Suppose the quality of televisions changes over time, but the quality change goes unmeasured for the purpose of computing the consumer price index. In which
Suppose the quality of televisions changes over time, but the quality change goes unmeasured for the purpose of computing the consumer price index. In which of the following instances would the bias resulting from the unmeasured quality change be most severe? 6 a. None of the other options are correct b. The quality of televisions deteriorates and televisions become more expensive relative to other goods. c. The quality of televisions improves and televisions become less expensive relative to other goods. d. The quality of televisions deteriorates and the price of televisions relative to other prices remains unchanged. e. The quality of televisions improves and televisions become more expensive relative to other goods
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