True or flase questions. Need asap. I put the answers I got for each one.  1.The price level is measured by using a basket of goods and services and calculating how the nominal cost of buying that basket of goods will change over time(I got true). 3.The rate of inflation is measured as the percentage change between price levels or the values of a price index over time(I got true). 4. As the general price level changes, substitution bias in price indices results in underestimation of the change in the cost of living(I got false).

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A: Answer is given below

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A:

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