Asked by greatdanelola
If the Consumer Price Index is imperfect, why do we use it?
Answers
Answered by
GuruBlue
This article will explain how it works.
It will also explain why it is not exact and why it can not be exact. There are other price indices, but none of them are "perfect", essentially for the same reasons.
http://en.wikipedia.org/wiki/Consumer_price_index
It will also explain why it is not exact and why it can not be exact. There are other price indices, but none of them are "perfect", essentially for the same reasons.
http://en.wikipedia.org/wiki/Consumer_price_index
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