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De Paul University: Problems With the Cpi: Limitations of Application

Curated by ACT

This article discusses the types of bias which can occur when using the Consumer Price Inex. It examines how much product quality change is actually represented by the consumer price index, and discusses methods used to overcome some of these limitations.

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Concepts
inflation, substitution
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Additional Tags
consumer price index, formula bias, new outlet bias, quality change, time of month bias, depaul university: problems with the cpi: limitations of application, limitations
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Classroom Considerations
  • Knovation Readability Score: 4 (1 low difficulty, 5 high difficulty)