The consumer price index attempts to measure changes in the
A) prices of all goods and services produced by the Canadian economy.
B) price of a select market basket of goods and services.
C) spending patterns of urban consumers.
D) spending patterns of all consumers.
E) spending patterns of all producers.

Question

Quizplus · Accepted Answer

The consumer price index (CPI) is calculated based on changes in the prices of a select market basket of goods and services that are commonly purchased by consumers. It represents the average price change of this market basket over time and is used as a measure of inflation.

The Consumer Price Index Attempts to Measure Changes in the