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The price of orange juice increased, so Jay no longer buys orange juice, but instead buys cranberry juice. However, the market basket of goods used
The price of orange juice increased, so Jay no longer buys orange juice, but instead buys cranberry juice. However, the market basket of goods used in the Consumer Price Index (CPI) to measure inflation includes orange juice. This situation would lead to a price bias. bait and switch. substitution bias. consumption bias.The company where Lucia used to work replaced his manufacturing role with high-tech machinery. Which type of unemployment would this be considered? Cyclical unemployment Frictional unemployment Seasonal unemployment Structural unemployment
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