What Is the Basket of Goods Used to Construct the CPI

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