In the basket of goods that is used to compute the consumer price index,which of the following categories of consumer spending is the largest?
A)education & communication
B)food & beverages
C)medical care
D)recreation

Question

Quizplus · Accepted Answer

According to the Bureau of Labor Statistics, as of December 2020, the category of food and beverages accounted for 14% of the total weight of the consumer price index, making it the largest category. Education and communication accounted for 6%, medical care for 8%, and recreation for 6%.

In the Basket of Goods That Is Used to Compute