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Can anyone describe the 3 problems that make the consumer price index an imperfect measure of the cost of livi

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Can anyone describe the 3 problems that make the consumer price index an imperfect measure of the cost of living?

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  1. 1. Does not capture how people change their consumption habits when the relative prices of goods change

    2. Does not account for the introduction of new goods

    3. Does not measure quality change


  2. CPI doesn't measure the cost of transportation, nor food, nor housing.  It seems deliberate that the government doesn't want us to know the truth?

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