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Which of the following are problems with the CPI? Group of answer choices The number of households that are surveyed about spending is considered too
Which of the following are problems with the CPI? Group of answer choices The number of households that are surveyed about spending is considered too low to provide accurate results about prices. Because of substitution bias, changes in the CPI will over-estimate the impact of inflation on consumer wellbeing. Because of substitution bias, changes in the CPI will under-estimate the impact of inflation on consumer wellbeing. Because the introduction of new consumer products is not immediately incorporated into the CPI market basket, changes in the CPI will misrepresent the impact of inflation on consumer wellbeing. Because the introduction of new products is immediately incorporated into the CPI market basket, changes in the CPI under-estimate the impact of inflation on consumer wellbeing
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