Cheaper Walmart Thanksgiving Meal

Wrong! - Outlet substitution concerns switching store types, which doesn’t happen here, so it doesn’t apply. Quality changes can raise prices, but this scenario is about changing items, not quality differences. New goods bias applies when entirely new products appear in the basket; that’s not the case here.

Wrong! - The CPI uses a fixed basket and misses substitutions and the GDP deflator covers all goods produced in the economy, so they both don’t track cost-of-living changes well. Core CPI excludes food and energy—key household expenses—so it cannot reflect overall living costs.