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Question: suppose iphones are the part of the market basket used...

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Suppose “i-phones” are the part of the market basket used to compute the CPI. Assume the price of new model of “i-phone” is unchanged from the previous period but this new phone has longer battery life compared to the old model. Now suppose that the Bureau of Statistics can precisely adjust the CPI for the changes in quality. Other things equal,
Group of answer choices
The CPI will rise.
“i-phones” will no longer be included in the market basket.
The CPI will fall.
The CPI will stay the same.
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