i. The Consumer Price Index measures the change in prices of a fixed market basket of goods and services from one period to another.
ii. The CPI is not just one index, but includes a large number of groups, subgroups and selected items, such as a food index, a transportation index and a shelter index.
Iii) The Consumer Price Index is based on more than 600 separate goods and services used by most urban and rural families.
A) (i), (ii) and (iii) are all correct statements
B) (i) and (ii) are correct statements, but not (iii).
C) (i) and (iii) are correct statements but not (ii).
D) (ii) and (iii) are correct statements but not (i).
E) All statements are false

Question

i. The Consumer Price Index measures the change in prices of a fixed market basket of goods and services from one period to another. 
ii. The CPI is not just one index, but includes a large number of groups, subgroups and selected items, such as a food index, a transportation index and a shelter index.
Iii) The Consumer Price Index is based on more than 600 separate goods and services used by most urban and rural families.
A) (i), (ii) and (iii) are all correct statements
B) (i) and (ii) are correct statements, but not (iii).
C) (i) and (iii) are correct statements but not (ii).
D) (ii) and (iii) are correct statements but not (i).
E) All statements are false

Quizplus · Accepted Answer

The Consumer Price Index (CPI) measures the change in prices of a fixed market basket of goods and services from one period to another. The CPI is not just one index, but includes a large number of groups, subgroups and selected items, such as a food index, a transportation index and a shelter index. The CPI is based on more than 600 separate goods and services used by most urban and rural families.

I the Consumer Price Index Measures the Change in Prices