Solved: How might this index be biased by quality effects, Macroeconomics

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How might this index be biased by quality effects

Problem

(GDP Price Index) The health expenditure component of the GDP price index has been rising steadily. How might this index be biased by quality and substitution effects? Are there any substitutes for health care?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Macroeconomics: How might this index be biased by quality effects

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Macroeconomics: How might this index be biased by quality effects

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