-For the CPI, what is the base year?
A) It is the benchmark against which other years are compared, and it changes each year.
B) It is the benchmark against which other years are compared, and it changes occasionally.
C) It is the year the CPI first appeared.
D) It is the year prior to the year for which the CPI is calculated.

Question

-For the CPI, what is the base year?
A) It is the benchmark against which other years are compared, and it changes each year. 
B) It is the benchmark against which other years are compared, and it changes occasionally. 
C) It is the year the CPI first appeared. 
D) It is the year prior to the year for which the CPI is calculated.

Quizplus · Accepted Answer

The base year for the Consumer Price Index (CPI) is a specific year or period that serves as a benchmark for comparing price levels in other years. It is not fixed and can be updated or changed occasionally to reflect more current spending patterns or to improve the accuracy of the index.

-For the CPI, What Is the Base Year