Question

The CPI is based on an: Multiple Choice average of the goods and services purchased by "urban consumers." average of the goods and services purchased by "rural consumers." average of the two baskets of goods and services purchased both by "urban" and by "rural" consumers. aggregated average meant to reflect the statistical average consumption.

Answer 1

Answer:

average of the goods and services purchased by "urban consumers."

Explanation:

The US Bureau of Labor Statistics determines the CPI by calculating the weighted average of a basket of goods. More than 24,000 people are interviewed each year in order to elaborate this index, and the sample is taken from the US Census and includes people that live or work in urban areas around the country.