Typically the consumer price index (CPI)is calculated by checking the prices of
A) all goods in 38 geographic locations.
B) only consumer goods in all populated places in the United States (using the Census Bureau's definition of a populated place).
C) about 8,000 goods in about 38 locations across the United States.
D) about 8,000 goods in about 38 locations in North America.
E) about 10,000 goods in about 75 locations in the United States.

Question

Quizplus · Accepted Answer

The consumer price index (CPI) is typically calculated by checking about 8,000 goods in about 38 locations across the United States. This is done to get an accurate representation of the cost of living in different regions and for different goods and services. The CPI is used to measure inflation and to adjust salaries, pensions, and other benefits for changes in the cost of living.

Typically the Consumer Price Index (CPI)is Calculated by Checking the Prices