Typically the consumer price index (CPI) is calculated by:
A) checking the prices of all goods in 38 geographic locations.
B) checking the prices of only consumer goods in all populated places in the United States (using the Census Bureau's definition of a populated place).
C) checking the prices of about 8,000 goods in about 38 locations across the United States.
D) checking the prices of about 8,000 goods in about 38 locations in North America.
E) checking the prices of about 10,000 goods in about 75 locations in the United States.

Question

Quizplus · Accepted Answer

The CPI is calculated by checking the prices of about 8,000 goods in about 38 locations across the United States. This is done to represent a wide range of goods and geographic locations to accurately measure inflation.

Typically the Consumer Price Index (CPI) Is Calculated By