Related to the Economics in Practice on p. 607: The Case-Shiller index of housing prices measures the change in price of
A) the average house in a city over time.
B) identical houses that have sold multiple times.
C) a specific size of house in an area over time.
D) the average house across the nation over a 1-year time period.

Question

Quizplus · Accepted Answer

The Case-Shiller index specifically measures the change in price of identical houses that have sold multiple times. This allows for a more accurate measurement of the housing market as it eliminates the effect of changes in the composition of houses being sold over time.

Related to the Economics in Practice on P