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Basket of Goods and Services

Flashcard Definition

A hypothetical set of consumer products and services, including food, clothing, transportation, medical care, and more. This basket represents typical purchases of an average consumer and is used in the calculation of the CPI.

Block Type
Flashcard
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Basket of Goods and Services

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Who are the Fraser of Allander Institute?

Created by Economic Futures. We are hosted by the FAI. Contact us at economicfutures@strath.ac.uk for feedback or collaboration.

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