Answer
a) This is the introduction of new goods, which allows consumers to select their goods from a larger variety.
b) This is an unmeasured quality change as consumers are getting the same good for the same price (over time).
c) This is substitution bias since consumers are consuming more of a good due to a decreased price.
Work Step by Step
d) This is a unmeasured quality change as consumers are getting more raisins for the same price (over time).
e) This is a substitution bias since gas prices increase, allowing consumers to consume more fuel-efficient cars.
