The consumer price index is a cost-of-goods measure, not a true cost-of-living measure.

Name: The consumer price index is a cost-of-goods measure, not a true cost-of-living measure.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The consumer price index measures changes in the price of a fixed basket of goods and services over time, but it doesn't account for changes in consumer behavior or the availability of alternative products. Therefore, it is not a true cost-of-living measure.

The Consumer Price Index Is a Cost-Of-Goods Measure, Not a True