Multiple Choice
Which of the following statements does NOT describe a problem in measuring the consumer price index (CPI) ?
A) The CPI measures only private goods and services.
B) The CPI uses a fixed market basket of goods determined by surveys that are three to five years old.
C) Approximately 10% of the original market basket must be replaced each year by products that are improved or modified.
D) The CPI quickly includes new products in its baskets.
Correct Answer:
Verified
Correct Answer:
Verified
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