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The official poverty line is adjusted every year based on increases in the cost of living as measured by the CPI. However, suppose poor folks
The official poverty line is adjusted every year based on increases in the cost of living as measured by the CPI. However, suppose poor folks buy a basket of goods/services different from the CPI's representative basket and, moreover, suppose the "poor folks" basket has risen in cost more rapidly that the CPI basket. In this case, the poverty rate will be ______. Multiple choice question. understated overstated accurately stated
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