16.6 The Consumer Price Index (CPI). The CPI
(a) can be thought of as a fixed market basket price index for the collection of all the goods and services that consumers buy. However, it is not a true fixed market basket price index because of adjustments for changing buying habits, new products, and improved quality.
(b) can be used to change dollar amounts at one time into the amount at another time that has the same buying power.
(c) is determined from data from several large sample surveys.
(d) All of the above are correct.