The "Basket of Goods" Included in the Consumer Price Index

question 224

True/False

The "basket of goods" included in the Consumer Price Index has remained the same over the years so the government can make accurate year-to-year comparisons about the rate of inflation.

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Definitions:

Revolving Credit

A credit agreement that allows a borrower to withdraw, repay, and redraw loans repeatedly up to a certain credit limit.

Magnuson-Moss Act

A federal law enacted to protect consumers from deceptive warranty practices, improving the enforceability of warranties on consumer products.

Injunctive Relief

A court order requiring a party to do or to refrain from doing specific acts.

Equal Credit Opportunity

A law that prohibits lenders from discriminating against applicants based on race, color, religion, national origin, sex, marital status, age, or because all or part of an applicant's income derives from any public assistance program.