The concept of a price index is that it is a(n) a. measure of how the items
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The concept of a price index is that it is a(n)
a. | measure of how the items included in the typical basket of goods have changed over time; it also includes price changes over time. |
b. | measure of how the items included in the typical basket of goods have changed over time, while holding price changes constant. |
c. | measure of how the prices included in the typical basket of goods have changed over time, holding the items in the consumption bundle constant. |
d. | index of how much gasoline prices have increased, because all prices follow the price of gasoline. |
e. | index of how much housing prices have changed, because housing is the most important item in the consumption bundle. |
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