What is meant by the substitution effect when measuring inflation and does the substitution effect cause the stated inflation rate to overstate or understate the true effect of inflation?
What is meant by the substitution effect when measuring inflation and does the substitution effect cause the stated inflation rate to overstate or understate the true effect of inflation?
Chapter14: Money And The Economy
Section: Chapter Questions
Problem 6WNG
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What is meant by the substitution effect when measuring inflation and does the substitution effect cause the stated inflation rate to overstate or understate the true effect of inflation?
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