Answer to Question #230337 in Macroeconomics for amr

Question

The consumer price index is in part based upon the share of income devoted to which of the following major categories?

Answer 1

Consumer price index tends to be computed through assistance help of its elements as well as highest weightage is of the housing as lowest being apparel. Basically, it weighs price level changes considering consumer services and goods. The major categories include apparel, housing, medical care and Transportation.