Which of the following was a way for the b ureauof labor statistics to reduce the qualitty/new good bias in its calcualtion of the cpi? a) automatically reduce the inflation by 0.5% to account for quality?new good bias. b)allow for some substitution amongst products. c) remove energy and food prices. d) update the list of products included in the cpi more often and rapidly

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Chapter11: Measuring The Cost Of Living
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Which of the following was a way for the b ureauof labor statistics to reduce the qualitty/new good bias in its calcualtion of the cpi?

a) automatically reduce the inflation by 0.5% to account for quality?new good bias.

b)allow for some substitution amongst products.

c) remove energy and food prices.

d) update the list of products included in the cpi more often and rapidly.

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