What Basket of Goods Is Used to Construct the CPI

Multiple Choice

What basket of goods is used to construct the CPI?

A) a random sample of all goods and services produced in the economy
B) the goods and services that are typically bought by consumers as determined by government surveys
C) only food, clothing, transportation, entertainment, and education
D) the least expensive and the most expensive goods and services in each major category of consumer expenditures