Tim was planning for a meeting with his boss to discuss a raise in his annual salary. In preparation, he wanted to use the Consumer Price Index to determine the percentage increase in his real (inflation-adjusted) salary over the last three years. Which of the 4 methods of data collection was involved when he used the Consumer Price Index?
A) experimentation
B) surveying
C) observation
D) published sources

Question

Quizplus · Accepted Answer

The Consumer Price Index is a published source that provides information on the average change in prices paid by consumers for goods and services over time. Therefore, the method of data collection involved in using the Consumer Price Index is published sources.

Tim Was Planning for a Meeting with His Boss to Discuss