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Suppose that nominal wages grow at the same rate as the CPI inflation rate, leaving the...

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Economics

Suppose that nominal wages grow at the same rate as the CPI inflation rate, leaving the purchasing power of wages unchanged. Which of the following, if true, could potentially imply that inflation nevertheless leaves people better off? (a) CPI inflation does not correct for substitution bias (b) CPI inflation does not correct for quality change for some goods (c) CPI measures inflation experienced by the typical family only in some cases (d) All of the above

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