The CPI's approach is to
A) track the cost of the CPI market basket,which is the collection of goods and services that the typical consumer buys.
B) track the cost of the CPI market basket,which is the collection of every good and service that is for sale in the U.S.
C) track the cost of housing,and food and beverage expenditures.
D) track the cost of the CPI market basket,which is the collection of every good that is for sale in the U.S.
E) track the cost of the CPI market basket,which is the collection of goods that the typical consumer buys.

Question

Quizplus · Accepted Answer

The CPI's approach is to track the cost of the CPI market basket, which is a collection of goods and services that the typical consumer buys. It includes items like housing, transportation, food and beverages, clothing, and medical care. The CPI does not track the cost of every good and service sold in the U.S., as in option B or D, nor does it only focus on specific categories like housing and food and beverage expenditures, as in option C. Therefore, option A is the best choice.

The CPI's Approach Is to