The bias that arises when the index number formula used for an output PPI systematically understates average price increases because it does not take into account that producers seeking to maximize revenue from a given technology and inputs may shift production to items with above average relative price increases.
Or, the bias that arises when the index number formula used for an input PPI systematically overstate average price increases because it does not take into account that producers seeking to minimize costs with a given technology and output may shift purchases of inputs to items with below average relative price increases.
Reference: http://stats.oecd.org/glossary/detail.asp?ID=5698
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marginal rate of substitution
what is d difference between import substitution and export promotion
Marginal rate of substitution tends to decrease with passage of units consumptions.
Yes. The height of an indifference curve is the marginal rate of substitution.
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substitution menthod
The Consumer Price Index (CPI) often exhibits upward bias due to several factors, including substitution bias, quality adjustments, and new product introduction. When consumers switch to cheaper alternatives or when the quality of goods improves without a corresponding price decrease, the CPI may overstate the actual increase in cost of living. Additionally, the fixed basket of goods used in CPI calculations can fail to reflect real consumption patterns, further contributing to this bias.
marginal rate of substitution
I can give you several sentences.Use that ingredient as a substitution for the one you don't have.He is going in as a substitution for the quarterback.This is a substitution for the real thing.Margarine could be used as a substitution.
marginal rate of substitution
Substitution - song - was created in 2009.
The Grand Substitution was created in 1965.
Successive Substitution was created in 1989.
There is not Substitution Property of Congruence. There is, however, one for Equality, called the Substitution Property of Equality.
Fixed Bias,Self Bias, Forward Bias, Reverse Bias
what are the main criticism of import substitution industrialisation