The chained consumer price index (CPI) for urban consumers does a better job in approximating the cost-of-living index than does the CPI.

Name: The chained consumer price index (CPI) for urban consumers does a better job in approximating the cost-of-living index than does the CPI.
Brand: Quizplus
Rating: 4.9 (51 reviews)

Question

Quizplus · Accepted Answer

The chained CPI accounts for changes in consumer behavior and substitution between goods when prices change, making it a closer approximation to the cost-of-living index compared to the traditional CPI.

The Chained Consumer Price Index (CPI) for Urban Consumers Does