The first step in measuring the CPI is to
A) select the market basket.
B) conduct a monthly survey.
C) collect prices for the basket of goods and services.
D) interview businesses.

Question

Quizplus · Accepted Answer

The first step in measuring the Consumer Price Index (CPI) is to select the market basket, which is a fixed list of goods and services representative of what a typical consumer might purchase.

The First Step in Measuring the CPI Is to