By Using the Market Basket Approach

question 82

Multiple Choice

By using the market basket approach:

• A) it allows us to see how cost of living is affected by the changing prices of different goods relative to how much of each good you buy.
• B) we get a more accurate picture of the changing cost of living than by simply averaging the changing prices of goods listed in the market basket.
• C) we get a clearer picture of the changing cost of living than by averaging the changing prices of all goods and services produced.
• D) All of these statements are true.

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