Which of the Following Is Required to Construct a Consumer

question 143

Multiple Choice

Which of the following is required to construct a consumer price index?

• A)The choice of a base year in which prices are defined as 100.
• B)The creation of a representative basket of goods and services.
• C)The determination of the inflation rate.
• D)The calculation of changes in the level of consumption spending.

---

Definitions:

Special Price

A discounted pricing strategy applied to products or services for promotional purposes or to certain classes of customers.

European Vacation

A holiday spent in one or more countries in Europe, often characterized by visits to cultural sites, natural landscapes, and experiencing local cuisine.

Clearly Stated

Something presented or expressed in a manner that leaves no doubt about its meaning.

Silence

The absence of sound or the act of refraining from speaking; in legal contexts, it can imply consent or acceptance under certain conditions.