What Is the Basket of Goods Used to Construct the CPI

question 57

Multiple Choice

What is the basket of goods used to construct the CPI?

• A)a random sample of all goods and services produced in the economy
• B)the goods and services typically bought by consumers, according to Statistics Canada surveys
• C)goods and services weighted by the ratio of expenditures on them relative to the consumption component of GDP
• D)the least and the most expensive goods and services in each major category of consumer expenditures

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