Question

Which of the following statements concerning price indexes is not accurate

Answer 1

Price indexes define the cost of goods in the entire economy at a given point in time❤

Answer 2

Answer

The statement concerning price indexes which is not accurate is Price Indexes define the cost of goods in the entire economy at a given point in time

Explanation

The scale used in measuring changes in the levels of prices is called price index. This percentage scale can be based on prices of a single good or a market basket. The indices have direct effect to wages of union staff whose adjustments in cost of living depend on consumer price index.