In the basket of goods that is used to compute the consumer price index,which of the following categories of consumer spending is the smallest?
A)food & beverages
B)recreation
C)housing
D)apparel

Question

Quizplus · Accepted Answer

Apparel spending is the smallest category of consumer spending in the basket of goods used to compute the consumer price index. It typically accounts for around 3-4% of total spending, while categories like housing, food & beverages, and recreation make up much larger shares.

In the Basket of Goods That Is Used to Compute