I the CPI Serves Only One Major Function: as an Economic

question 67

Multiple Choice

i. The CPI serves only one major function: as an economic indicator of the rate of inflation.
ii. To construct a special-purpose index designed to measure general business activity, the weights
Are based on the judgments of the statistician and assigned to each series.
iii. The Consumer Price Index measures the change in prices of a fixed market basket of goods and
Services from one period to another.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) and (ii) are correct statements but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

---

Definitions:

Social Structures

The organized patterns of social relationships and social institutions that together compose society, providing a framework within which social interaction occurs.

Early British Sociology

The foundational phase of sociology in Britain, focusing on the development of the discipline and its early theorists and methodologies.

Intellectual Current

A flow of ideas or thoughts prevalent among intellectuals or within a specific field of study at a particular time.

The Enlightenment

A philosophical movement in the 17th and 18th centuries emphasizing reason, individualism, and skepticism towards traditional doctrines.