Question

Government statisticians at the U.S. Bureau of Labor Statistics calculate the CPI based on the prices in a fixed basket of goods and services that represents the purchases of the average family of two.

True or false?

Answer 1

The answer is True

Step-by-step explanation:

This is considered to be called a Consumer price index.

A Consumer price index (CPI) is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food, and medical care. it is calculated by taking price changes for each item in the predetermined basket of goods and services and averaging them.