When constructing the consumer price index, the Bureau of Labor Statistics does not do which of the following?
A)Try to include all the goods and services that the typical consumer buys.
B)Try to weight the goods and services that the typical consumer buys according to how much consumers buy of each item.
C)Survey consumers to determine what the typical consumer buys.
D)Survey sellers to determine what the typical consumer buys.

Question

Quizplus · Accepted Answer

The Bureau of Labor Statistics (BLS) surveys consumers to determine what the typical consumer buys (option C) but does not survey sellers for this purpose. The focus is on consumer behavior and preferences, not on the sellers' perspectives.

When Constructing the Consumer Price Index, the Bureau of Labor