The prices of which of the following goods would be included in the Consumer Price Index?
A) Fighter planes
B) Iron ore
C) Tennis shoes
D) Firefighters' services
E) IBM stock

Question

Quizplus · Accepted Answer

The Consumer Price Index (CPI) measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. Tennis shoes are a consumer good typically purchased by households, making them relevant for the CPI. Fighter planes, iron ore, firefighters' services, and IBM stock are not typical consumer goods or services included in the CPI.

The Prices of Which of the Following Goods Would Be